USA: Pork and beef quotes on the CME stock exchange sharply rebounded down
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게시됨 2023년 3월 20일
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From March 10 to March 17, the cattle and pork futures market on the Chicago Mercantile Exchange developed in the same direction. Quotations of fattening cattle meat, in live weight and pork fell by 1.19% to 8.66%, KazakhZerno.kz writes. On March 17, CME Pork Futures closed slightly higher in some active contracts as a result of the sharp decline seen last week, although late delivery contracts continued to move lower.
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Traders say the market continues to see lower cutoffs along with more pressure from the banking turmoil. Friday's insignificant growth of quotations is only a slight recovery against the background of oversold conditions. April lean pork futures rose 0.425 cents to 79.875 cents a pound, down 8.7% from Monday, while June futures edged down 0.150 cents to 93.325 cents a pound. The decline in futures for fattening and live weight cattle is due to the situation in foreign markets. April live-weight bovine meat futures fell 0.025 cents to 1.6233 cents a pound and April fattening bovine meat futures edged up 0.500 cents to 1.8885 cents a pound. Traders have yet to evaluate USDA's post-hours announcement that fattening cattle stocks were down 4.5% as of March 1 from the same period in 2022. The agency's estimate was in line with many analysts' expectations. Over the week, live weight quotations for cattle fell from $1.6428 to $1.6233 per pound, or 1.19%. Quotations of fattening cattle ...