US hog futures retreat from contract highs

게시됨 2024년 11월 5일

Tridge 요약

CME lean hog and live cattle futures experienced a decline due to profit taking and technical selling, following recent highs driven by strong demand for US pork and limited hog supplies. Wholesale pork cutout values softened slightly, although pork carcass cutout remained largely unchanged. In Canada, a potential lockdown at the Port of Vancouver could boost US pork exports to Japan, though it could also lead to more Canadian meat being shipped to the US. Meanwhile, profit margins for beef processors have narrowed.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

Chicago Mercantile Exchange (CME) lean hog futures ended lower on profit taking and technical selling on Monday, Reuters reported, citing brokers. Profit-taking also pressured live cattle futures at the CME. The hog market pulled back after setting contract highs last week on solid demand for US pork and tighter-than-expected hog supplies. "Hogs were certainly overbought," said Matt Wiegand, commodity broker for risk management firm FuturesOne in Nebraska. CME December lean hog futures slid 0.85 cents to close at 83.225 cents per pound. Wholesale cutout values eased for US pork bellies and hams, the US Department of Agriculture (USDA) said. The pork carcass cutout was nearly unchanged, as loin values increased. In Canada, the BC Maritime Employers Association said it would lock out workers at Canada's Port of Vancouver after a negotiating deadline passed, potentially disrupting exports of meat and other goods. A lengthy work stoppage at Vancouver could open an opportunity for the ...

출처: Thepigsite