US: Lean hog futures end mixed

Published 2023년 1월 16일

Tridge summary

CME live cattle futures ended mostly firm on Friday, driven by tight supplies and reduced beef production due to harsh winter weather. However, gains were capped by lower feeder cattle futures and rising feed corn prices. Live cattle futures prices remained in a trading range, with February live cattle ending slightly higher at 157.725 cents per pound. On the other hand, CME lean hog futures ended mixed, with pressure from weak cash hog prices and ample supplies, but a sharply higher wholesale pork carcass cutout value helped offset this. The US Department of Agriculture reported that the pork cutout value increased to $81.64 per cwt on Friday. February lean hogs ended slightly lower at 78.650 cents per pound, while April futures were slightly higher at 87.275 cents per pound.

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Original content

Chicago Mercantile Exchange (CME) live cattle futures ended mostly firm on Friday, underpinned by tight supplies and as harsh winter weather in recent weeks lowered cattle slaughter weights and limited beef production, Reuters reported, citing traders. Live cattle futures prices remained bound in a recent trading range as cash cattle prices at Plains feedlot markets were mixed in light trade compared with last week's sales. However, lower feeder cattle futures amid rising feed corn prices capped gains in the live cattle market. February live cattle ended 0.175 cent higher at 157.725 cents per pound while April futures were down 0.025 cent at 160.900 cents. March feeder cattle futures fell 1.400 cents to 182.875 cents per pound. CME lean hog futures ended mixed on Friday, as pressure from weak cash hog prices and ample supplies was offset by a sharply higher wholesale pork carcass cutout value. The US Department of Agriculture said the pork cutout jumped to $81.64 per cwt on ...

Source: Thepigsite