From Reuters (Africa):
CME Globex cattle stampede to all-time high
LIVE CATTLE - At 8:35 a.m. CST (1435 GMT), April
up 0.275 cent per lb at 130.025 cents and June up
0.225 cent at 127.425 cents.
* Cash cattle so far traded at mostly $128 per cwt, which was down $1 in
Texas and Kansas but up $1 in Nebraska.
* The showlists, the number of cattle available for sale, were up in the
southern Plains while down slightly in Nebraska, an analyst said.
* Bullish traders contend the early-week sale of cattle signals packers are
gearing up for spring grilling features by retailers.
* Profit-taking and disappointing weekly export news tempered market
advances.
* USDA's weekly export beef sales data showed net sales at 13,200 tonnes,
mostly to South Korea, compared with 28,600 a week ago.
...MORE Here are Kourtney, Khloé and Kim discussing substitution effects:
