Chicago Mercantile Exchange (CME) cattle and hog futures came out of their U.S. Presidents Day break trading higher, with front-month live cattle posting eight-year highs.
CME February 2023 live cattle touched 164.975 cents/lb. in Tuesday’s trade before closing at 164.75 cents, up 1.175 cents from Friday’s close and the highest close for the front-month contract on a continuous chart since December 2014.
Most heavily traded April live cattle closed at 165.1 cents, up 0.45 cent (all figures US$).
March feeder cattle also closed higher, for a second straight day, ending at 186.875 cents, up 0.35 cent.
CME April lean hogs rebounded off three straight days of losses Tuesday, ending up 3.825 cents/lb., at 89.1 cents, its highest close since Jan. 10. May hogs ended at 91.175 cents, up 2.775 cents. — Glacier FarmMedia Network
