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CME live cattle futures firmed as cash cattle were bid around $168 per cwt in the southern Plains, about $1 above the prior week's bulk trade. Lean hog futures set new contract lows, while May feeder cattle dipped to a one-week low.
USDA reported 123,000 cattle slaughtered and packer margins climbed.
Higher cash bids signal tighter fed cattle supply, supporting live cattle prices. Hogs at contract lows point to weak pork demand or oversupply pressure on hog prices.
financialpost.comReutersApr 5, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Apr 5 futures firmed on higher cash price expectations and rising packer margins, adding to the window's gains.
