Hog futures fall in third straight session - CME

Cattle futures fall on technical selling
calendar icon 4 October 2023
clock icon 1 minute read

Chicago Mercantile Exchange (CME) cattle futures fell on Tuesday, pressured by technical selling and demand concerns, Reuters reported, citing traders.

Hog futures notched their third straight losing session as the government's bigger-than-expected supply report from last week continued to weigh on the market.

The benchmark CME December lean hogs futures contract sank 0.425 cent to finish at 69.075 cents per pound, after bottoming out at 68.425 cents.

In CME's cattle markets, most-active November feeders dropped 5.35 cents to 250.35 cents per pound. December live cattle dropped 2.7 cents to 185.65 cents per pound.

December live cattle futures dropped below their 200-day, 40-day and 50-day moving averages. November feeder cattle dropped below the low end of its 20-day Bollinger range and its 100-day moving average.

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