Mixed sentiment sees CME Cattle ending the day broadly flat; establishes tight $182.85 to $183.9 range

Published: January 25 2023, 21:15 GMT+0

Mixed sentiment sees CME Cattle ending the day broadly flat; establishes tight $182.85 to $183.9 range

Feeder Cattle trades at $183.65 per pound, after ending yesterday at $183.6.

CME Feeder Cattle's state is reflected by market data as highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000. United States 5-Year Note Auction released today at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. United States Cushing Crude Oil Inventories released today at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

Meanwhile, mixed performances are seen in other Meats as Live Cattle closed at $157.47 (down 0.24%).

Moreover, United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of 0.1%; data will be released tomorrow at 13:30 UTC. Tomorrow at 13:30 UTC data for United States GDP will be released, with an expected decline to 2.6 from the preceding figure of 3.2. As things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 205,000, following on from the preceding figure of 190,000. New data is set to be published tomorrow at 13:30 UTC.

Trading mostly sideways for 8 months. After hitting an important low of $153.25 approximately 8 months ago, CME Feeder Cattle has bounced back 19.8% since.

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