Chicago Mercantile Exchange lean hog futures lost ground on Wednesday on weakness in the pork cutout, according to analysts, while cattle futures also retreated on falling wholesale prices.
Chicago Mercantile Exchange live cattle futures gained strength on Tuesday on technical trading, analysts said, while lean hog futures rose for a second day as traders anticipated growing export demand.
Chicago Mercantile Exchange cattle futures firmed slightly on Thursday as stocks hit record highs on Wall Street for a second day, providing borrowed strength to the livestock markets, analysts said.
Chicago Mercantile Exchange lean hog futures fell to their lowest level in more than a week on Tuesday as profit-taking extended the market's setback from contract highs last week, analysts said.
Chicago Mercantile Exchange lean hog futures pulled back from contract highs on Thursday as traders booked profits ahead of the end of a month, traders said.
Chicago Mercantile Exchange lean hog futures hit contract highs for a third day in a row on Wednesday as U.S. supplies continued to be tighter than expected, analysts said.
Chicago Mercantile Exchange live and feeder cattle futures rose on Monday on fund buying and strong demand for beef, even as the red meat has become more expensive to consumers, said analysts.
Chicago Mercantile Exchange live cattle futures dipped slightly on Friday, while feeder cattle and lean hogs ticked up as traders squared positions prior to the release of the U.S. Department of Agriculture's Cattle on Feed report, after a choppy week of trading, analysts said.
Chicago Mercantile Exchange cattle futures turned lower on Wednesday, amid a flurry of technical selling and uncertainty whether consumer demand for beef would chill after an E. coli outbreak was linked to McDonald's Quarter Pounder burgers, traders said.