Labor or Beef Day?

Chicago Mercantile Exchange (CME) live cattle futures climbed on Friday. Beef prices are strong and likely to stay that way as Labor Day – and its traditional barbecue – is on its way, reported Reuters.

• Retailers will have beef going into the meat case.
• External economic forces could place pressure on beef demand, but there are going to be fewer cattle to sell.

Meanwhile, CME lean hog futures climbed on Friday too.

• Although we have seasonably higher slaughter numbers in the fall, the hog market has surprised everyone.