US cattle futures firm - CME
Hog futures hold steady
13 February 2023
1 minute read
By: US live cattle futures edged higher on Friday, with low animal weights supporting prices that hit their highest in nearly eight years earlier this week, reported Reuters.
"It's a trend that doesn't get reversed quickly, and likely sets us up for lighter weights well into the spring," brokerage StoneX wrote in a note to clients.
Hog futures were steady, with uncertainty about pork demand hanging over the market.
CME benchmark April live cattle futures gained 0.325 cent to 163.95 cents per pound, while front-month February live cattle gained 0.375 cent to 161.2 cents.
CME March feeder cattle futures dipped 0.425 cent to 186.4 cents per pound.
Most-active April hogs were unchanged at 83.325 cents per pound, while June hogs also were flat at 101.65 cents.
June hogs found technical support near the low end of their 20-day Bollinger range.
Beef prices remained strong, with select cuts rising by 28 cents to $254.29 per cwt, while choice cuts were 37 cents higher at $269.66, according to US Department of Agriculture data.
