Chicago Mercantile Exchange cattle futures declined for a second straight session on Wednesday in a profit-taking and technical-selling correction from recent highs.
Chicago Mercantile Exchange cattle futures dipped on Tuesday as gains fueled by tight cattle supplies and strong demand faded amid concerns that high beef prices and cooling weather could soon affect retail meat sales, analysts said.
Chicago Mercantile Exchange cattle futures fell on Thursday on technical selling after live and feeder cattle futures hit contract highs in the previous day.
Chicago Mercantile Exchange cattle futures fell on Thursday after rising for four consecutive sessions, as traders booked profits and squared positions ahead of the U.S. Department of Agriculture's monthly Cattle on Feed report due after the market's close on Friday, analysts said.
Chicago Mercantile Exchange cattle futures rose for the fourth session in a row on Wednesday, as a continued tight supply of cattle and resilient consumer demand for beef boosted futures, traders said.