Cattle gain on strong packer margins; profit-taking sinks hogs

Cattle gain on strong packer margins; profit-taking sinks hogs

CHICAGO — Chicago Mercantile Exchange (CME) cattle futures firmed on Friday on strong beef plant margins and good demand from packers for fed cattle, traders said. Cash beef prices have flattened after a prolonged run higher, but packers continue to make a large profit on each animal slaughtered. “We’re probably seeing that our boxed beef…