Expanded daily trading limits for live cattle and feeder cattle futures could make the convergence on the June futures very interesting about a month from now. CME announced late week that daily limits for live cattle will increase to $8.50 starting June 1st, $10.75 for feeder cattle on the same day.
June live cattle started the week yesterday about $10 below the current cash market. June futures and cash need to converge before June goes off the board on the 30th. First notice day by the way for June futures is the 8th.
Audio Reporting by Mark Oppold for Southeast AgNet.
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