US: Lean hog future end mixed - CME

Chicago Mercantile Exchange (CME) feeder cattle futures firmed on Wednesday, seeing a boost from weakness in the grain market and as the trade tried to spur ranchers to rebuild their herds, Reuters reported, citing analysts. Live cattle futures eased on profit-taking and weaker-than-expected cash trades, traders said. The cattle slaughter rate was just 100,000 head on Tuesday, as a winter storm system moved through the Northern Plains, though those numbers increased on Wednesday, analysts said. While the Northern Plains and upper Mississippi Valley will see an end to freezing rain on Wednesday, the National Weather Service said falling temperatures are following blizzard conditions. Packer margins firmed for both beef and pork processing on Wednesday, according to Hedgersedge.com. Both select and choice cut boxed beef prices fell Wednesday afternoon, the US Department of Agriculture (USDA) reported. Meanwhile, CME lean hog futures were mixed, as the spread between the February and ...