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CME hog futures climbed to nearly four-month highs on July 31, with October lean hogs up 0.975 cents to 86 cents per pound and packer margins rising to $15.00 per head. August live cattle futures eased 0.100 cent to 178.050 cents per pound, pressured by softer cash prices and uncertain consumer demand.
Stronger pork values and packer margins support hog prices and hog-sector demand for feed, while softer cash cattle pricing weighs on cattle futures. The divergence is routine and does not signal a new supply shock.
thebeefsite.comMelanie EppJul 31, 2023Not 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.
