CME cattle futures firm as traders assess USDA cattle-on-feed report
Bullish strength: 72/100
- September cattle placements fell to 88% of last year's level, the lowest for September since 1996.
- Cattle-on-feed numbers were below analyst expectations.
- Wholesale boxed beef prices increased on Monday.
Bearish strength: 28/100
- Red meat inventories were up 3% year over year.
- Cattle futures were leaning toward overbought conditions.
- Beef packers lost an average of $33.30 per head on Monday.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.