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DJ CME Livestock Review:Most Hogs Gain, Live Cattle Slide

by 5m Editor
27 September 2007, at 11:07am

US - Chicago Mercantile Exchange hogs ended mostly firm Wednesday on October/December bear spreads that, along with lower cash quotes, pressured spot-October but elevated December.

Also, moderate Chicago board of Trade corn gains provided far-month lean hog support.

Pork bellies finished higher. Meanwhile, live cattle finished weak and feeders ended flat to down slightly.

Taking their cue from electronic-hog weakness, pit-traded hogs sagged on the open. Tuesday's almost $1 per hundredweight pork cutout setback and worrisome kill rates exerted additional pressure. And, increased Iowa/Southern Minnesota average hog weights made matters worse for spot-October.

Also, October ticked downward in response to cash hog prices that trailed throughout the morning.

Source: WallacesFarmer

5m Editor