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US cattle, hog futures firm - CME

08 August 2022

Live cattle futures hit highest in more than three months

Chicago Mercantile Exchange (CME) live cattle futures firmed to their highest in more than three months on Friday, while hog futures edged back toward the 13-1/2-month high hit on Wednesday, reported Reuters.

CME August live cattle futures settled 0.175 cent higher at 137.875 cents per lb, with the front-month contract hitting its highest since 29 April during the session, and most-active October gained 0.225 cent to 143.875 cents.

September feeder cattle futures closed up 0.85 cent at 183.425 cents per lb.

In the US wholesale beef market, choice cuts fell $1.18 to $265.10 per hundredweight (cwt) by Friday morning, according to the US Department of Agriculture (USDA). Select cuts lost $1.08 to $239.27 per cwt.

August lean hog futures rose 0.175 cent to 120.825 cents per lb and the most-active October contract gained 0.8 cent to 98.4 cents.

The front-month hog contract hit its highest on a continuous basis since June 2021 on Wednesday, peaking at 120.95 cents.

The USDA reported the pork carcass value at $124.49 per cwt on Friday morning, 31 cents lower than Thursday afternoon.

Source: Reuters



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