U.S. livestock: Hog, cattle futures lower on plentiful supplies

Chicago | Reuters — U.S. hog futures fell for the third day in a row on Wednesday, with the market under pressure from plentiful supplies, traders said.

Cattle futures also closed lower, sinking to their lowest in nearly a month.

Heavy rains in key production areas were spurring producers to market their animals more quickly, INTL FCStone said in a research note to clients, adding to the abundant supplies available in the short-term.

CME December hogs, the most active contract, dropped 0.625 cent to settle at 55.95 cents/lb. (all figures US$).

Thinly traded October hogs were 0.275 cent lower at 68.475 cents/lb.

USDA late in September showed the total U.S. hog herd about three per cent larger than a year ago.

Most-active CME December live cattle eased 0.675 cent to 116.475 cents/lb.

CME November feeder cattle were down 1.325 cents to 156.175 cents/lb.

— Michael Hirtzer reports on commodity markets for Reuters from Chicago; reporting by Mark Weinraub.

Related Articles


Stories from our other publications