US cattle futures end mixed - CME

Hog futures rise on cash market strength
calendar icon 1 May 2023
clock icon 1 minute read

Chicago Mercantile Exchange (CME) hog futures rose on Friday, supported by strength in the cash market and good overseas demand for pork, Reuters reported, citing traders.

Cattle futures were mixed, with feeder cattle contracts easing on a round of profit taking after setting new contract highs while live cattle contracts ended firm.

CME's most-active June live cattle contract gained 0.275 cent to 165.475 cents. June cattle futures rose 0.6% this week, their sixth straight weekly gain.

Most-active August feeder cattle dropped 0.85 cent to 230.725 cents, capping a week that saw prices rise 0.4%. August feeder cattle future have risen for five weeks in a row.

CME May lean hogs rose 1.525 cents to 79.65 cents per pound. June lean hogs gained 1.6 cents to 91.7 cents per pound. June hogs, the most active contract, rose 6.5% this week.

Tyson Foods Inc. does not expect to resume production until the second week of May at a Madison, Nebraska, pork plant following a weekend fire, the meatpacker said.

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