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CME Live Cattle Futures React to Weather
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CME live cattle futures slip as traders anticipate the impact of wintry weather on livestock, while feeder cattle futures end higher. The U.S. reports a rise in the choice boxed beef cutout but falling prices for select cuts. Packers are losing an estimated $145.75 per head for this week's processing. Meatpackers slaughtered an estimated 115,000 cattle and 489,000 hogs. CME lean hogs rise on hopes that U.S. cash prices have reached a bottom, amid government actions in China.
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How do government actions in China influence the U.S. cash prices for lean hogs and their impact on the global meat market?
How might the wintry weather's impact on livestock affect the overall meat market and consumer prices?
What strategies could the U.S. meatpacking industry employ to mitigate the losses from this week's processing?
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