US lean hog futures closed mixed

Published 2024년 12월 30일

Tridge summary

CME live cattle futures ended higher on Friday, influenced by the rise in wholesale beef prices and strong cash cattle markets. The February live cattle settled up 0.550 cent at 190.650 cents per pound, reaching its highest since Dec. 16. Feeder cattle futures also saw an increase, with CME January feeder cattle futures finishing up 2.075 cents at 261.375 cents per pound. Despite the higher prices, beef packers are still experiencing a loss with about $46 per head of cattle. CME lean hog futures closed mixed on Friday, with the benchmark February contract settling down 0.050 cent at 84.150 cents per pound, while April hogs ended 0.275 cent higher at 89.525 cents. The USDA reported export sales of US pork for the week ended Dec. 19.

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

Original content

Chicago Mercantile Exchange (CME) live cattle futures ended higher on Friday, buoyed by rising wholesale beef prices and firm cash cattle markets, Reuters reported, citing traders. February live cattle settled up 0.550 cent at 190.650 cents per pound after reaching 190.875 cents, the contract's highest since Dec. 16. CME January feeder cattle futures finished up 2.075 cents at 261.375 cents per pound and March feeders ended up 1.050 cents at 260.550 cents a pound. The US Department of Agriculture (USDA) priced choice cuts of boxed beef on Friday afternoon at $322.38 per hundredweight (cwt), up $1.99 from Thursday and the highest level since late October. Select cuts rose to $291.13 per cwt, up $2.36 from Thursday. Meanwhile, slaughter-ready cattle traded in the southern Plains cash market on Friday at $192 to $193 per cwt, up $1 to $2 from last week's cash trades, the USDA said. Profit margins for beef packers remained in the red with packers losing about $46 per head of cattle, ...

Source: Thepigsite