# CME hogs hit new contract highs on smaller than expected US slaughter

> 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.

- Date: 2024-10-30 · published 2024-10-30T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/28004-cme-hogs-hit-new-contract-highs-on-smaller-than-expected-us-slaughter
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

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.

## Read by commodity

- HOGS: bullish ▲
- FCATTLE: bearish ▼
- LCATTLE: bearish ▼

## Sources

- livemint.com: https://www.livemint.com/news/world/cme-hogs-hit-new-contract-highs-on-smaller-than-expected-us-slaughter-11730330026325.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.