Hog futures ease for second session - CME

Aug 28, 2023

Chicago Mercantile Exchange (CME) live cattle futures eased on Tuesday after two sessions higher, as traders watch to see the impact of sweltering temperatures on slaughter-ready cattle, Reuters reported, citing analysts.

"The heat does hurt the weights. That's been an issue for a lot of the south, for a lot of the summer," said Don Roose, president of US Commodities.

Most-active October live cattle slid 1.250 cents to 178.625 cents per pound. September feeder cattle dipped 1.325 cents to close at 249.000 cents per pound.

Beef packer margins declined versus Monday and a week ago, falling to 47.30 per head, according to Denver-based Hedgers Edge.

Boxed beef prices firmed, with choice cuts adding $1.49 to $317.05 per hundredweight (cwt), while select cuts gained $2.18 to $289.51 per cwt., according to the US Department of Agriculture.

Cattle slaughter fell to 124,000 head, down from 125,000 a week earlier and 127,00 the same period last year, the USDA said.

Click here to see more...
Subscribe to our Newsletters

Trending Video