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CME lean hog futures hit contract highs for a third straight day as U.S. meatpackers slaughtered an estimated 488,000 hogs, below expectations. The December contract settled at 84.375 cents per pound, and the CME Lean Hog Index rose to its highest in over seven weeks.
Live and feeder cattle futures eased on lower beef cutout values.
Tighter-than-expected hog supplies support hog prices, which can improve feeding margins and support demand for feed ingredients; cattle weakness reflects softer beef values.
livemint.comReutersOct 30, 2024Not 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.
