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CME October lean hog futures settled up 1.35 cents at 93.6 cents/lb on Tuesday, a second straight gain, while December hogs rose to 85.5 cents. October live cattle settled at 143.825 cents after a 3-1/2 week low on bargain buying, and feeder cattle rose.
The USDA reported the pork carcass value down 41 cents at $102.16/cwt.
Modest bargain buying lifts hog and cattle futures after recent declines, but wholesale pork weakness and rising interest-rate fears keep the near-term outlook cautious.
thepigsite.comMelanie EppAug 31, 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.
