Chicago Mercantile Exchange live cattle futures ended mixed on Friday as wholesale beef price firmed and packer margins improved, but traders remain concerned that cash market values may be near a seasonal peak, analysts said.
Live cattle and feeder cattle futures closed mostly lower at the Chicago Mercantile Exchange on Thursday as slow sales of beef products such as hamburgers and steak weighed on prices, Altin Kalo, economist at Steiner Group, said.
Lean hog futures closed at their lowest price since January at the Chicago Mercantile Exchange on Wednesday as traders focused on a potential oversupply of U.S. pork heading into the summer barbecue season.
Lean hog futures dropped to their lowest price since January at the Chicago Mercantile Exchange on Tuesday as weakness in the Mexican peso fueled worries over demand in the biggest export market for U.S. pork, traders said.
Chicago Mercantile Exchange (CME) lean hog futures ticked down on Monday as the Mexican peso fell, making it more expensive for Mexican importers to purchase U.S. pork.
Chicago Mercantile Exchange (CME) cattle futures turned lower for a third session on Friday, as technical trading at one point sent the most-active August live cattle LCQ24 contract dipping to a two-week low.
Chicago Mercantile Exchange (CME) cattle futures turned lower for a second trading session on Thursday, even as the tight U.S. cattle supply and strength in the beef cutout values offered support, analysts said.
Chicago Mercantile Exchange (CME) cattle futures turned lower on Wednesday amid news that China has blocked U.S. beef exports coming from a JBS-owned plant in Colorado because traces of the feed additive ractopamine were identified in beef destined for China.
Chicago Mercantile Exchange (CME) cattle futures turned higher on Tuesday on technical trading and market anticipation that packers increase buying on a shortened holiday week, analysts said.
Chicago Mercantile Exchange live cattle futures ended mixed on Friday, amid growing uncertainty over packer interest after the U.S. Memorial Day holiday weekend, traders said.