October lean hog futures dip – CME
Chicago Mercantile Exchange (CME) cattle futures weakened on Wednesday as quiet trade on the cash market fortified concerns about light demand.
Hog futures were narrowly mixed, with short-covering providing support, while worries that a firm US dollar will chill export demand for pork added pressure.
Benchmark CME October live cattle futures settled down 0.8 cent at 144.25 cents per lb, with December also off 0.8 cent, at 150.075 cents.
CME October feeder cattle dropped 2.15 cents to close at 183.95 cents per lb.
CME October lean hogs LHV2 dipped 0.025 cent to 91.075 cents per lb, while December hogs gained 0.1 cent to close at 83.6 cents per lb.
In the US wholesale beef market, choice cuts rose $1.73 to $262.22 per hundredweight (cwt) by Wednesday morning. Select cuts were 17 cents lower at $239.13 per cwt, according to the US Department of Agriculture (USDA).
The USDA priced pork carcasses at $102.88 per cwt on Wednesday morning, down $1.45 from Tuesday afternoon.
Read also
The Counterparty Is Trying to Avoid Fulfilling the Contract. What Should You Do?
Russia’s lurking grain industry crisis
China extends Canadian canola probe until March 2026
US agricultural sales to increase by $8 bln following agreement with Japan
China’s soybean stocks hit record high amid trade war with US
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon