Strong cash prices boosts CME live cattle by 3-cent limit

Reuters reports Chicago Mercantile Exchange live cattle settled up their 3.000 cent per pound daily price limit on Thursday, fueled by short-covering following stronger-than-expected cash prices, said traders. Fund buying and futures’ discounts to this week’s cash returns enhanced market gains, they said. June and August closed limit up at 127.425and 124.700 cents, respectively. Live cattle’s limit will expand to 4.500 cents on Friday. Read more at Reuters…