CME Daily Features
US - It was mostly a consolidation day for livestock futures on Tuesday. This was particularly the case for cattle following the limit down day on Monday, write CME analysts Steve Meyer and Len Steiner.
US - The major storm that covered much of Colorado, Nebraska, Kansas and the upper Midwest in snow early this week caused several meat plants to shut down on Tuesday, write Steve Meyer and Len Steiner.
US - The hog futures rally that started sometime in mid December hit the pause button yesterday as market participants ponder demand resilience into February. While we have seen gains in the value of the pork cutout since the start of the year, the increase in cash hog prices has been more significant - and for good reason, write Steve Meyer and Len Steiner.
US - Last week was another volatile one in the livestock futures markets, that now sounds like a broken record, and USDA’s National Agricultural Statistics Service (NASS) released their monthly Cattle on Feed and Cold Storage reports on Friday; those reports will be quickly reviewed here, writes Steve Meyer and Len Steiner.
US - Lean hog futures have been gaining ground since mid November and were higher again yesterday. The nearby February contract was up 72 points and it is now up almost 300 points for the year, write Steve Meyer and Len Steiner.
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