CHICAGO–Cattle futures prices rallied to four-month peaks on Tuesday, lifted by gains in the wholesale beef market, which stoked hopes that demand is on the mend.
April live-cattle futures picked up 1.425 cents, or 1%, to $1.40725 a pound on the Chicago Mercantile Exchange, the highest closing price for a front-month contract since Nov 2.
Futures prices have soared in the past week, as investors bet grocery stores and restaurants would continue paying up for beef, as temperatures pick up across the U.S.
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