The bulk of Chicago Mercantile Exchange live cattle contracts closed lower on Friday, pressured by the morning’s bearish U.S. Department of Agriculture (USDA) monthly Cattle-On-Feed report, said traders.
Chicago Mercantile Exchange live cattle and lean hog futures rose to life-of-contract highs on Tuesday, lifted by investment fund buying linked to optimism that meat prices will continue to rise, traders said.
Chicago Mercantile Exchange live cattle futures fell nearly 1 percent on Thursday, pressured by fears of lower trades in cash cattle markets and positioning ahead of a government supply report due on Friday.
Hot and dry cornfield conditions are breeding grounds for dangerous aspergillus ear and kernel mold that produces aflatoxins. This toxin is a carcinogen, can harm livestock and can lead to rejection at the elevator.