CHICAGO — U.S. cattle futures are narrowly higher Monday, lifted by hopes for a recovery in demand for beef, as retailers stock up on grilling meats.
April live-cattle futures picked up 0.225 cent, or 0.2%, to $1.3460 a pound on the Chicago Mercantile Exchange, after a 1% gain in the past week. Most-active cattle futures for June rose 0.025 cent to $1.2405 a pound. Feeder-cattle futures for April picked up 0.575 cent to $1.56475 a pound.
Seasonally, buying interest among grocery stores and restaurants for items that can be cooked outdoors tends to also increase as temperatures rise in the spring.
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