US cattle futures end mixed - CME

Hog futures fall
calendar icon 15 September 2022
clock icon 1 minute read

US hog futures fell on Wednesday, turning lower on a round of profit-taking after the most-active December contract hit its highest in more than three weeks early in the trading session, reported Reuters

Cattle futures were mixed, with live cattle contracts easing for the second day in a row while feeder cattle futures bounced from the five-week low hit on Tuesday.

CME October lean hogs closed 1.05 cents lower at 94.7 cents per lb, while December hogs shed 0.4 cent to end at 85.3 cents per lb.

China will release 15,000 tonnes of frozen pork from state reserves on September. 17 as it looks to keep prices stable ahead of upcoming holidays, according to a notice issued on Wednesday by the reserves management center. 

October live cattle dropped 0.45 cent to 144.35 cents per lb, and December dropped 0.4 cent to close at 150.05 cents per lb.

October feeders rose 1 cent to close at 181.525 cents per lb.

Meat processors slaughtered about 484,000 hogs on Wednesday, the most since November 17. A year ago, hog slaughter was reported at 472,000, according to daily US government data. 

Cattle slaughter was reported at 126,000 head, up from 119,000 in the comparable period in 2021.

Source: Reuters

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