Hog, cattle futures fall as feed costs rise – CME
Chicago Mercantile Exchange (CME) Group hog and cattle futures eased on Friday, with rising soy and corn futures raising feed costs for livestock producers.
Traders noted consolidation trade ahead of the US Memorial day holiday weekend. US grain and livestock markets will be closed on Monday.
The nearby June hogs contract fell 0.7 cent to 110.4 cents per pound. Most-active July hog futures fell 0.1 cent to 111.725 cents per pound.
CME June live cattle dropped 0.225 cent to 132.175 cents per pound, while the most-active August live cattle gained 0.2 cent to 132.4 cents per pound.
CME August feeder cattle fell 0.35 cent to 166.325 cents per pound.
Prices for choice cuts of boxed beef were reported at $265.42 per cwt on Friday afternoon, up $1.45 from a day earlier, while select cuts rose to $246.50 from $244.43 per cwt, according to US Department of Agriculture data.
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