CME Daily Features
US - There is some hand wringing in the pork complex at this time, especially with the lean hog carcass still priced within a couple of cents of where it was in early March. Some of the uncertainty was evident in futures trading yesterday, with the June contract at one point down by 125 points before rebounding and closing down 37, write Steve Meyer and Len Steiner.
US - The supply of beef, pork and poultry in cold storage at the end of March was 2.235 billion pounds, 0.7 per cent lower than a year ago and 1.2 per cent lower than the previous month, write CME analysts Steve Meyer and Len Steiner.
US - USDA-ERS published March’s average retail price data on 15 April. These values provide an estimate for average retail prices for pork, turkey, broilers, and beef, write Steve Meyer and Len Steiner.
US - Cash prices in the hog market have been trading for the most part sideways since February (see chart). Prices gained ground quickly from the January low, in part because we started from a very low base, write Steve Meyer and Len Steiner.
US - Lean hog futures continued to lose ground in yesterday’s trading, with the June contract down 110 points from the previous close and now some 600 points lower than the contract high in mid March, write Steve Meyer and Len Steiner.
US - Fed cattle futures rebounded on Friday on reports of modest gains in cash prices and speculation that packers would become more aggressive in buying cattle for the next two to three weeks, write Steve Meyer and Len Steiner.
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