Tridge summary
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.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
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 ...
Source: Thepigsite
Would you like more in-depth insights?
Gain access to detailed market analysis tailored to your business needs.
Related market data
What to read next
Read more relevant content
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.