Hogs

Chicago | Reuters — Chicago Mercantile Exchange live cattle closed lower Friday, pressured by profit-taking following futures’ sharp rally on Thursday, traders said. “Investors are looking at the fact that futures overdid it to the upside yesterday,” said Oak Investment Group president Joe Ocrant, who also cited weaker cutout values. Friday morning’s wholesale choice beef […] Read more

Chicago | Reuters — Chicago Mercantile Exchange feeder cattle Wednesday hit a record high on fund buying after contracts broke through technical resistance levels, traders said. “(The) technical aspect of the feeder cattle market looks fine,” said Citigroup futures specialist Sterling Smith. Fundamentally, young calves for feeding will be in demand given generally weak corn […] Read more

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed lower on Tuesday in anticipation of a seasonal bump in supplies that could further pressure prices for market-ready, or cash cattle, traders said. Last week, cash cattle in Texas and Kansas moved at $144 per hundredweight (cwt), $1 lower than the week before (all […] Read more

Chicago | Reuters –– Chicago Mercantile Exchange hogs closed lower on Thursday, pressured by weaker prices for market-ready or cash hogs pegged to plant closures during the U.S. Memorial Day holiday, trader said. They also cited the relapse in wholesale pork prices. Grocers bought all the product they need to accommodate grilling demand over the […] Read more