Lean hog futures decline in the US

Published 2023년 1월 20일

Tridge summary

Chicago Mercantile Exchange (CME) live cattle futures experienced a decline on Thursday, with the most-active April contract reaching a one-month low due to technical selling, weak cash cattle markets, and low wholesale beef prices. The most-active April contract fell below its 50-day moving average, finishing down 1.100 cents at 159.125 cents per pound. CME February live cattle settled at 155.950 cents per pound, near its 50-day moving average. Cash cattle trading has been slow this week in the southern Plains, with a few purchases at $155 per hundredweight. The US Department of Agriculture (USDA) priced choice cuts at $271.51 per cwt, the cheapest since Dec. 22. CME lean hog futures also declined due to recent weakness in wholesale pork prices and concerns about export demand from China.

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Original content

Chicago Mercantile Exchange (CME) live cattle futures fell on Thursday with the most-active April contract hitting a one-month low on technical selling, soft cash cattle markets and weak wholesale beef prices, Reuters reported, citing traders. CME February live cattle settled down 0.850 cent at 155.950 cents per pound, near its 50-day moving average, after touching 155.375 cents, its lowest since Dec. 20. The most-active April contract fell below its 50-day moving average and finished down 1.100 cents at 159.125 cents per pound after a dip to 158.550, its lowest since Dec. 9. CME March feeder cattle futures fell 1.625 cents to settle at 180.100 cents per pound. Cash cattle has been slow to trade this week in the southern Plains, with a few purchases noted in Kansas at $155 per hundredweight (cwt), down $1 from last week. One the beef side, the US Department of Agriculture (USDA) priced choice cuts on Thursday afternoon at $271.51 per cwt, down $2.57 from the previous day and the ...

Source: Thepigsite