Avian influenza fears hang over lean hog futures in the US

Published 2024년 4월 30일

Tridge summary

Lean hog futures on the Chicago Mercantile Exchange (CME) reached a nearly two-week low before ending unchanged due to concerns about the spread of avian influenza (AI) in livestock. This anxiety, triggered by the US Department of Agriculture's (USDA) confirmation of AI in dairy cows in late March and subsequent outbreaks in nine states, has negatively affected not only hog futures but also live cattle and feeder cattle futures. The worry lies in the potential for AI to affect hog herds, as the USDA has not reported any cases in pigs yet. CME June lean hogs ended at 102.475 cents per pound, and June live cattle settled at 177.150 cents per pound, while August feeder cattle ended at 259.625 cents per pound, showing declines. The USDA is actively monitoring the situation by collecting samples of ground beef at retail stores in states with AI outbreaks to ensure meat safety.

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Original content

Chicago Mercantile Exchange (CME) lean hog futures fell to their lowest level in more than a week on Monday before ending unchanged, as concerns about risks for the spread of avian influenza in livestock hung over the market, Reuters reported, citing analysts. Live cattle and feeder cattle futures ended lower. Livestock markets have swung on worries about the H5N1 virus since the US Department of Agriculture (USDA) confirmed cases in dairy cows for the first time in late March. The USDA has since reported outbreaks in nine states, though scientists think outbreaks are more widespread based on findings of H5N1 particles in about 20% of milk samples. Concerns about the disease create nervousness among funds that hold net long positions in hog futures, said Altin Kalo, agricultural economist for Steiner Consulting. Traders worry about the risk for the virus, known as highly pathogenic avian influenza (HPAI), to spill into hog herds. USDA has reported no cases in pigs. "You have ...

Source: Thepigsite