Cattle Futures - Most Live Cattle Slide
CHICAGO, US - Chicago Mercantile Exchange hogs closed uneven with April and June weak on cash pressure and spreads while other months gained amid higher corn prices and speculative hedging.
6 March 2008
1 minute read
Pork bellies ended up sharply, live cattle settled mainly lower and feeder cattle posted session losses.
Lean hogs rose on the open fueled by short covering and spot-April and nearby-June's oversold Relative Strength Index conditions. Also, notions that Tuesday's futures tumble was exaggerated, and April's new contract low on Tuesday, motivated prospective bulls.
What's more, electronic-Chicago Board of Trade corn's recovery encouraged deferred-month speculative hog shoppers.
