USA: Hog markets end flat for third straight session

Published 2024년 5월 1일

Tridge summary

CME cattle futures experienced a decline on Tuesday due to concerns over decreased meat demand, following the USDA's decision to test ground beef samples in states with bird-flu infections in dairy cows. This situation, exacerbated by worries about the H5N1 virus, has led to fluctuations in the livestock markets. CME June live cattle and August feeder cattle contracts saw significant drops, with June live cattle ending at 174.975 cents per pound and August feeder cattle at 255.5 cents. Meanwhile, June futures in the lean hog market remained stable for the third consecutive session at 102.475 cents per pound.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Chicago Mercantile Exchange (CME) cattle futures tumbled on Tuesday as traders worried consumers will buy less meat, a day after the US government said it will verify the safety of ground beef in states that have bird-flu infections in dairy cows, reported Reuters. The US Department of Agriculture (USDA) said on Monday it would test ground beef samples in retail stores in the nine states with confirmed H5N1 outbreaks in dairy herds. The department added it was confident the country's meat supply is safe. "If anything is going to guarantee a consumer scare, this is it," said Dennis Smith, commodity broker for Archer Financial Services. Demand concerns increased ahead of the Memorial Day weekend at the end of May, the holiday considered the start of the summer grilling season. Older dairy cows are often processed into ground beef, used to make hamburgers. CME June live cattle slid 2.175 cents to end at 174.975 cents per pound. CME August feeder cattle sank 4.125 cents to close at ...

Source: Thepigsite