CME cattle, hog futures rise

Rally sparked by strong export sales report
calendar icon 9 October 2023
clock icon 1 minute read

Chicago Mercantile Exchange (CME) lean hog futures rose on Friday, extending a rally that was sparked by a strong export sales report a day earlier, Reuters reported, citing traders.

A round of short covering was noted as prices moved off of the four-month lows hit on Wednesday.

Cattle futures also were firm.

The most-active December hogs contract rose 1.3 cents to settle at 73.575 cents per pound. It broke through its 10-day and 40-day moving averages during the session.

In CME's cattle markets, November feeders gained 0.575 cent to 250.875 cents per pound. December live cattle gained 1.3 cents to 186.675 cents per pound.

December live cattle rose above its 50-day moving average.

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