US cattle, hog futures firm - CME

Front-month hog contract hit its highest since June 2021
calendar icon 8 August 2022
clock icon 1 minute read

Chicago Mercantile Exchange (CME) live cattle futures firmed to their highest in more than three months on Friday, while hog futures edged back toward the 13-1/2-month high hit on Wednesday, reported Reuters.

CME August live cattle futures settled 0.175 cent higher at 137.875 cents per lb, with the front-month contract hitting its highest since 29 April during the session, and most-active October gained 0.225 cent to 143.875 cents.

September feeder cattle futures closed up 0.85 cent at 183.425 cents per lb.

In the US wholesale beef market, choice cuts fell $1.18 to $265.10 per hundredweight (cwt) by Friday morning, according to the US Department of Agriculture (USDA). Select cuts lost $1.08 to $239.27 per cwt.

August lean hog futures rose 0.175 cent to 120.825 cents per lb and the most-active October contract gained 0.8 cent to 98.4 cents.

The front-month hog contract hit its highest on a continuous basis since June 2021 on Wednesday, peaking at 120.95 cents.

The USDA reported the pork carcass value at $124.49 per cwt on Friday morning, 31 cents lower than Thursday afternoon.

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