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CME lean hog futures pulled back from contract highs as traders took profits ahead of month-end, with December hogs settling 0.575 cents lower at 83.8 cents per pound. Live and feeder cattle futures also ticked down as boxed beef values weakened, with the choice cutout falling $1.84 to $317.60 per cwt.
Profit-taking and fears of a seasonal drop in pork cutout values weigh on hog and cattle futures in the near term. Feed buyers may see softer livestock prices, though strong consumer demand limits the downside.
thecattlesite.comMelanie EppNov 1, 2024thecattlesite.comMelanie EppOct 31, 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.
Reports live and feeder cattle futures ticking down on Oct 31 as the Choice cutout weakened $1.84, directly matching the one-day drop through lower beef values and profit-taking.
Dated Oct 31, it reports live and feeder cattle futures ticking down as the choice cutout fell $1.84, a direct demand and sentiment driver of the one-day drop.
Reports live and feeder cattle futures ticking down on 2024-11-01 as boxed beef values weakened (choice cutout down $1.84), a direct demand/wholesale-price mechanism for the one-day drop.
