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CME feeder cattle futures firmed on May 2, 2022, supported by lower corn futures. August feeders rose 5.80 cents to 174.075 cents per pound, and June live cattle settled at 135.200 cents.
Lean hog futures eased, with June hogs falling to their lowest since January 20 amid Chinese lockdowns that weakened US pork exports.
Lower corn costs support cattle prices, while weaker export demand from China pressures lean hog prices. Hog prices are pushed down by export demand losses rather than supply.
thecattlesite.comGlobal Ag MediaMay 2, 2022Not 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.
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.
Feeder futures firmed on May 2 as lower corn cut feed costs, with August feeders up 5.80 cents, which fits a sharp one-day rise in feeder cattle.
