Live cattle, hog futures end mostly weaker - CME

Traders noted concerns about demand
calendar icon 26 April 2023
clock icon 1 minute read

Chicago Mercantile Exchange (CME) live cattle and hog futures contracts were mostly weaker on Tuesday, with ample supplies weighing on prices, reported Reuters.

Traders also noted pressure from poor cash market values and concerns about demand due to worries about the global economy.

"There probably is a little bit of a drag from outside markets," said Matthew Wiegand, a broker with FuturesOne. "There is a bit of a risk-off tone."

Feeder cattle contracts were mixed.

CME's most-active June live cattle contract dropped 0.525 cent to 164.025 cents. The front month April live cattle contract ended unchanged at 174.3 cents per pound.

CME April feeder cattle ended down 0.475 cent at 202.075 cents per pound. Most-active August feeder cattle gained 0.175 cent to 229.5 cents.

CME May lean hogs dropped 0.825 cent to 76.875 cents per pound. June lean hogs shed 0.3 cent to 87.05 cents per pound.

The June contract closed off its session peak after facing technical resistance at its 20-day moving average for the second day in a row.

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