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CME live cattle futures firmed on Thursday on strong cash cattle demand after six sessions of declines, with cash trade up to $146 per cwt in the northern Plains. The USDA quarterly hogs and pigs report showed the US hog herd down 1% as of September 1, a larger drop than analysts expected, and lean hog futures eased.
A smaller hog herd tightens pork supply and supports future hog prices, while firmer cash cattle trade supports live cattle values. Feed costs remain high, which limits producer expansion.
thecattlesite.comGlobal Ag MediaSep 29, 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.
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.
