Chicago | Reuters – CME Group cattle futures fell on Wednesday, as surprise deliveries in Texas showed that cash market supplies were higher than expected, traders said.
Hog futures were lower, snapping a streak of four straight higher closes as traders locked in profits from the market’s move to a two-month high.
CME July lean hog futures LHN2 dipped 0.875 cent to close at 111.85 cents per pound, while the most-active August hogs LHQ2 were 1.525 cents lower at 108.325 cents per pound.
The most-active August live cattle futures LCQ2 dropped 1.325 cent to 134.925 cents per pound. October cattle LCV2 fell 1.225 cent to 141.075 cents
CME August feeder cattle FCQ2 shed 2.15 cents to settle at 173.15 cents per pound.
Beef processors slaughtered an estimated 126,000 cattle on Wednesday, unchanged from a week ago and 10,000 more than a year earlier, the U.S. Department of Agriculture said. Pork processors slaughtered an estimated 469,000 hogs, down from 473,000 hogs a year earlier.
