LIVESTOCK-CME cattle futures rise as US braces for winter storm
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Cattle futures on the Chicago Mercantile Exchange rose as a winter storm is expected to impact production and transportation. February live cattle futures settled up 2.100 cents at 236.925 cents per pound, while March feeder cattle futures increased by 0.900 cent to 360.175 cents per pound. The USDA reported a 3% decrease in cattle on feed compared to last year, with tight supplies and a low U.S. herd size. Tyson Foods announced it will temporarily continue beef preparation at a closing Nebraska slaughterhouse, affecting 9% of its workers.
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Source: Reuters The copyright of this article belongs to the original author/organization.
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