US lean hog futures rose on stronger pork cutout values

Published 2024년 12월 23일

Tridge summary

CME live and feeder cattle contracts rose due to commodity funds increasing their net long positions, driven by near-record cash cattle prices and a lack of herd rebuild. Lean hog futures also increased due to stronger pork cutout values and position squaring before the weekend and Christmas holiday. The U.S. Department of Agriculture's Cattle on Feed report showed a slight decrease in placements and marketing compared to the previous year, but placed and marketed numbers were roughly in line with expectations. The U.S. hog herd size remained stable from the previous year, and the U.S.-Mexico border's closure to cattle imports due to New World screwworm further restricts U.S. cattle supply, supporting futures.

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Original content

Chicago Mercantile Exchange (CME) live and feeder cattle contracts edged higher on Friday as commodity funds added to their net long positions amid near-record cash cattle prices and no signs of a herd rebuild, Reuters reported, citing analysts. Lean hog futures also rose on stronger pork cutout values and position squaring ahead of the weekend and upcoming Christmas holiday. CME January feeder cattle FCF25 settled up 1.125 cents to 255.600 cents per pound, settling down 0.8% for the week. February live cattle LCG25 ended up 1.850 cents to 188.400 cents per pound, settling down 1.9% for the week. February lean hog futures LHG25 settled up 2.300 cents to 85.925 cents per pound, up 0.4% for the week. "Cattle is the hot one in the ag markets in terms of bullishness," Austin Schroeder, analyst at Brugler Marketing, said. The U.S. Department of Agriculture's Cattle on Feed report, which was released after the market's close, showed November cattle placements were down 4% from the ...

Source: Thepigsite