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Cattle futures down, hog futures firm - CME

19 January 2022

Slaughter of hogs and cattle up

Chicago Mercantile Exchange (CME) live cattle futures fell on Tuesday, with mild profit taking noted after rallying in three of the previous four sessions, reported Reuters.

Hog futures were firmer, extending their rebound from the five-week low hit last week.

Most actively traded February lean hogs rose 0.7 cent to 81.6 cents per pound.

CME February live cattle futures settled down 0.3 cent at 137.675 cents per pound. March feeder cattle futures dropped 0.95 cent to end at 165.425 cents per pound.

Meat processors slaughtered an estimated 468,000 hogs on Tuesday, up from 438,000 on Friday, the US Department of Agriculture said. The cattle slaughter was up 4,000, to 117,000.

Profit margins for beef processors rose to $411.00 per head of cattle on Tuesday from $382.75 on Monday and $303.90 a week ago, said HedgersEdge.com. Pork processors' margins rose by $10.20 to $45.75 per head.

Source: Reuters



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