Cattle, Hog Futures Rise; Underpinned by Cash Market

Reuters Staff
April 18, 2018 04:55 PM

Chicago Mercantile Exchange live cattle futures rose on Wednesday, supported by steady-to-higher early-week cash prices, traders said.
Hogs drew support from higher cash and wholesale pork prices. Futures were further supported by lower week-over-week hog weights.
“(It is a) good sign that these weights are coming down,” said Dan Norcini, an independent CME livestock futures trader. “I am wondering if this week’s cold weather across the northern tier of the country will take them down a bit more.”

On the cattle front, a small number of animals at Wednesday’s Fed Cattle Exchange brought $120 – $122 per cwt. A week ago, slaughter-ready, or cash, cattle in the U.S. Plains moved at $116 to $122.
April live cattle closed 0.925 cent per pound higher at 118.975 cents. June ended up 0.375 cent at 105.275 cents.
April CME feeder cattle rose 0.025 cent per pound to 138.750 cents.
May hogs closed up 1.950 cents per pound at 69.850 cents. Most actively traded June ended 1.775 cents higher at 78.525 cents.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s