US: Pork prices on the CME jumped by 12 percent

Published 2023년 2월 20일

Tridge summary

Between Feb. 10 and Feb. 17, the Chicago Mercantile Exchange saw an increase in bovine meat and pork futures. Pork quotes experienced the largest growth, with live cattle futures reaching their highest level since 2015 due to a reduced supply, causing cash market prices to rise. Meanwhile, lean pork futures experienced a decline for the third consecutive session. Throughout the reported period, live weight cattle quotations increased by 1.48%, fattening cattle quotations increased by 0.07%, and pork prices increased by 12.40%.

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

Original content

From Feb. 10 to Feb. 17, the bovine meat and pork futures market on the Chicago Mercantile Exchange moved in the same direction. Quotes for fattening and live weight cattle and pork rose by 0.07% to 12.40%. The biggest growth is still observed in pork quotes, KazakhZerno.kz writes. On February 17, according to preliminary data, futures for live cattle on the Chicago Mercantile Exchange rose to a maximum, reaching the highest level since 2015. Due to a reduction in the supply of cattle, prices for cattle in the cash market rose. So, for example, on the cash markets of the southern plains, it traded in the range from $160 to $162 per centner, i.e. $2 more than last week. Live-weight live-weight February futures were in low demand from buyers and rose 0.800 cents to 163.575 cents a pound after hitting 164.075 cents a pound, ie. the highest on a continuous futures chart since April 2015. Fattener meat futures ended mixed, with CME March prices up 0.300 cents to 186.525 cents a pound, ...

Source: Kazakh-zerno