US hog futures firm from lowest since February - CME
Cattle futures remain mixed
26 August 2022
1 minute read
By: Chicago Mercantile Exchange (CME) hog futures on Thursday edged up from a 6-1/2-month low on a round of short-covering after posting losses in four of the previous five sessions, reported Reuters, citing traders.
But the hog market remained under pressure from a seasonal slowdown in demand as the grilling season nears its end.
Cattle futures were mixed, with live cattle contracts hitting a 2-1/2-week low while feeder cattle contracts firmed.
CME October lean hogs settled up 0.725 cent at 91.1 cents per pound. The contract rose above its 200-day moving average during the session but failed to hold support above that key technical point.
CME October live cattle futures dropped 0.125 cent to settle at 143.65 cents per lb. CME September feeder cattle futures rose 1.225 cent to 184.25 cents per lb.
In the US wholesale beef market, choice cuts rose 71 cents to $263.54 per hundredweight (cwt), according to the US Department of Agriculture (USDA). Select cuts fell 8 cents to $237.54 per cwt.
The USDA's pork carcass value dropped 33 cents to $102.66 per cwt on Thursday.
