CHICAGO – Chicago Mercantile Exchange live cattle futures rallied about 1.5 percent on Tuesday on fund buying and stronger cash cattle and beef prices, traders said.
Frigid temperatures in U.S. Plains cattle producing areas also supported futures as such weather could slow down cattle weight gains, making them less available to packers.
Actively traded February live cattle settled 1.800 cents per pound higher at 123.350 cents, ending near its session high and at its loftiest level since Dec. 1.
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