At the Chicago Mercantile Exchange, cattle futures closed sharply higher on strong buyer interest. Yesterday’s news that China had added 20 USDA approved facilities was supportive to move as was the futures discount to cash. However, Monday’s markets will likely be under pressure as China announced it would retaliate with tariffs on $50 billion worth of US goods – including beef. June live cattle closed $2.20 higher at $108.45 and August live cattle closed $2.90 higher at $104.77.
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