Cooler than usual weather sees US beef demand rise and futures gain

Chicago Mercantile Exchange live cattle futures gained for a third straight session, fuelled by sharply higher wholesale beef prices, traders said.

August live cattle finished 1.325 cents per lb higher at 152.950 cents, and October 0.925 cent higher at 155.250 cents.

Wholesale price for choice beef jumped $2.02 (€1.50) per hundredweight to $250.47 (€1.85) from Friday to Monday morning. Select beef climbed $1.69 (€1.25) to $244.34 (€181), according to the US Department of Agriculture.