Live cattle futures climb on cash market optimism - CME

October lean hog futures dip
calendar icon 8 September 2022
clock icon 1 minute read

Chicago Mercantile Exchange (CME) cattle futures weakened on Wednesday as quiet trade on the cash market fortified concerns about light demand, reported Reuters, citing traders.

Hog futures were narrowly mixed, with short-covering providing support, while worries that a firm US dollar will chill export demand for pork added pressure.

Benchmark CME October live cattle futures settled down 0.8 cent at 144.25 cents per lb, with December also off 0.8 cent, at 150.075 cents.

CME October feeder cattle dropped 2.15 cents to close at 183.95 cents per lb.

CME October lean hogs LHV2 dipped 0.025 cent to 91.075 cents per lb, while December hogs gained 0.1 cent to close at 83.6 cents per lb.

In the US wholesale beef market, choice cuts rose $1.73 to $262.22 per hundredweight (cwt) by Wednesday morning. Select cuts were 17 cents lower at $239.13 per cwt, according to the US Department of Agriculture (USDA).

The USDA priced pork carcasses at $102.88 per cwt on Wednesday morning, down $1.45 from Tuesday afternoon.

Source: Reuters

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