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Cattle futures weaken, hog futures mixed - CME

26 May 2022

Both were pressured by weakness in cash markets

Chicago Mercantile Exchange (CME) Group cattle futures dipped on Wednesday, pressured by weakness in the cash markets, reported Reuters, citing traders.

Hog futures were mixed, with prices closing well off their session highs after contracts hit technical resistance.

The nearby June hogs contract rose 0.025 cent to 109.05 cents per pound, while most-active July futures fell 1.1 cents to 107.95 cents per pound.

Both contracts faced resistance at their 100-day moving averages.

CME June live cattle futures dipped 0.425 cent to 132.3 cents per pound, while the most-active August live cattle eased 0.225 cents to 132.525 cents per pound.

CME August feeder cattle fell 0.2 cent to 167.95 cents per pound.

Prices for choice cuts of boxed beef were reported at $262.93 per cwt on Wednesday afternoon, down 72 cents from a day earlier, while select cuts fell to $244.06 from $245.35 per cwt, according to US Department of Agriculture data.

Source: Reuters



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