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April 18, 2023
After closing the previous trading day at $163.72, Live Cattle is up to $164.93 per pound, which makes for a move of 0.73%/$1.2 today.
United States Building Permits (Mar) is next today at 12:30 UTC.
At the same time, United States TIC Net Long-Term Transactions (Feb) came out at 71 billion, while a consensus of analysts was expecting 101.9 billion. United States NY Empire State Manufacturing Index (Apr) released yesterday at 12:30 UTC with a figure of 10.8, while the previous figure was -24.6.
Rallies can also be seen in other Meats, Feeder Cattle goes up 1.41% to trade around $210.82.
Furthermore, the market is looking at United States Crude Oil Inventories projected to come out at -2.46 million — worse than previous data of 597,000; data will be released tomorrow at 14:30 UTC.
Also worthy of note, United States Building Permits (Mar) is scheduled for today at 12:30 UTC.
The commodity has been trending positively for about 10 months. CME Live Cattle is now trading 2.65% below the significant high of $168.18 it set around 18 days ago.
