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Pork Futures: Hogs End Mixed

by 5m Editor
8 April 2008, at 8:26am

CHICAGO - Chicago Mercantile Exchange lean hogs closed mixed Monday on supportive fundamentals, spreads and spotty deferred-month speculative hog buying activity.

Pork bellies settled higher, live cattle closed flat to higher and feeder cattle posted respectable gains.

Lean hogs opened mostly firm on carryover buying and Friday's pork cutout rise. Also, calls for higher cash hog prices slightly elevated front-month futures at the start.

On the other hand, some back hog-trading-month options lagged in the beginning due to indecisive electronic-Chicago Board of Trade corn futures.

Eventually, profit taking and market uncertainty trimmed spot-April and nearby-June advances. And some in the pit were nervous about April and June bearish premiums to CME's hog index.

Source: FXstreet.com

5m Editor