(Bloomberg) -- Cattle futures were unchanged in
Chicago after falling to a four-month intraday low as meatpacking
plants dropped prices to encourage retailers to buy excess
inventories. Hog futures rose.
The wholesale carcass price for cattle on June 1 fell to a
one-month low, according to data from the U.S. Department of
Agriculture. Slaughterers sold 19.6 million pounds of beef on
May 31, the most in 10 months, according to data from the USDA.
Meatpacking plants normally sell beef at a discount instead of
paying to store it.
Read more at Bloomberg Commodities News
Chicago after falling to a four-month intraday low as meatpacking
plants dropped prices to encourage retailers to buy excess
inventories. Hog futures rose.
The wholesale carcass price for cattle on June 1 fell to a
one-month low, according to data from the U.S. Department of
Agriculture. Slaughterers sold 19.6 million pounds of beef on
May 31, the most in 10 months, according to data from the USDA.
Meatpacking plants normally sell beef at a discount instead of
paying to store it.
Read more at Bloomberg Commodities News
No comments:
Post a Comment