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CME live and feeder cattle futures rallied on expectations of firm cash markets, while lean hog futures fell to their lowest since February 14 as US packers processed a large pork supply. Hog slaughter was about 484,000 head, above the prior year's pace.
Expected cash strength supports cattle futures, while heavy hog slaughter and processing volumes weigh on lean hog prices. Reduced plant schedules ahead of Memorial Day may cap cattle buying demand.
thecattlesite.comMelanie EppMay 22, 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.
CME live and feeder futures rallied on expectations of firm cash markets, reflecting momentum and demand sentiment that fed the surge.
