U.S. livestock: Cattle, hog futures climb

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Published: February 22, 2023

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CME April 2023 live cattle with Bollinger bands (20,2). (Barchart)

Chicago Mercantile Exchange (CME) cattle and hog futures came out of their U.S. Presidents Day break trading higher, with front-month live cattle posting eight-year highs.

CME February 2023 live cattle touched 164.975 cents/lb. in Tuesday’s trade before closing at 164.75 cents, up 1.175 cents from Friday’s close and the highest close for the front-month contract on a continuous chart since December 2014.

Most heavily traded April live cattle closed at 165.1 cents, up 0.45 cent (all figures US$).

March feeder cattle also closed higher, for a second straight day, ending at 186.875 cents, up 0.35 cent.

CME April lean hogs rebounded off three straight days of losses Tuesday, ending up 3.825 cents/lb., at 89.1 cents, its highest close since Jan. 10. May hogs ended at 91.175 cents, up 2.775 cents. — Glacier FarmMedia Network

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Dave Bedard

Dave Bedard

Editor, Grainews

Editor, Grainews. A Saskatchewan transplant in Winnipeg.

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