Cattle futures ease after hitting 2015-high - CME
Hog futures firm after hitting lowest in over a year
8 February 2023
1 minute read
By: Chicago Mercantile Exchange (CME) cattle futures fell on Tuesday, snapping an 11-session streak of gains on a profit-taking setback after hitting their highest in more than seven years, reported Reuters.
Some signs of weakness in the cash markets and concerns about profit margins added pressure.
Hog futures were firmer after hitting their lowest in more than a year.
CME benchmark April live cattle futures settled down 0.875 cent at 163.6 cents per pound.
Front-month February live cattle ended down 0.25 cent at 160.575 cents.
The front-month live cattle contract peaked at 161.2 cents, its highest on a continuous basis since April 29, 2015, in late morning trade.
CME feeder cattle futures closed lower as well, with the March contract finishing down 0.5 cent at 187.2 cents per pound.
The front-month feeder cattle contract hit its highest on a continuous basis since Nov. 4, 2015 before turning into negative territory.
Most-active April hogs gained 0.55 cent to 83.275 cents per pound, after hitting their lowest since Dec. 22, 2021. June hogs finished up 0.10 cent at 100.65 cents.
