Lean hog prices hit October high on fund buying - CME
Tight US cattle supplies lift feeder cattle futures
6 January 2026
1 minute read
By: Chicago Mercantile Exchange (CME) lean hog futures reached their highest level since October on Monday amid annual adjustments by funds in commodity markets, Reuters reported, citing brokers.
Fund buying at the start of the year also supported grain and soy futures at the Chicago Board of Trade.
CME February lean hog futures closed 2.050 cents higher at 86.150 cents per pound.
A "risk-on" mentality in the markets helped drive gains, though the market looked as though it was becoming overbought, a broker said.
CME feeder cattle also advanced, with March futures ending 2.625 cents higher at 355.575 cents per pound. The contract set its highest level since October 23.
In the live cattle market, February futures slipped 0.125 cent to 235.875 cents per pound after jumping on Friday to their highest level since October 24.
Last week, cattle traders refocused their attention on tight US supplies after Mexico reported two cases of New World screwworm in farm animals in two days. The US has largely blocked imports of Mexican livestock since May because of an outbreak of the flesh-eating livestock pest in Mexico.
"The market appears to have concluded that a resumption of trade is no longer imminent," consultancy Steiner Consulting Group said in a note.
US cattle supplies dwindled after ranchers reduced their herds due to a years-long drought that dried up pasture lands and raised feeding costs.
