U.S. livestock: Cattle, hog futures fall after bearish export reports

Chicago | Reuters — Chicago Mercantile Exchange hog and cattle futures fell on Thursday, pressured by signs of declining export demand for U.S. supplies.

The U.S Agriculture Department on Thursday morning said that beef export sales totaled 15,100 tonnes in the week ended July 30, down 50.8 per cent from the 30,700 tonnes reported a week earlier.

Pork export sales dropped 24 per cent to 30,400 tonnes.

Although most livestock futures ended lower, the front-month offerings firmed slightly as traders squared positions ahead of those contracts expiration.

Most-active CME October live cattle dropped 0.475 cent to close at 106.975 cents/lb. (all figures US$). CME August live cattle futures settled up 0.325 cent at 102.625 cents/lb. in thin trading.

Benchmark September feeder cattle fell 0.6 cent to 145.875 cents per pound.

CME October lean hog futures settled 0.1 cent lower at 49.2 cents/lb. Front-month August gained 0.3 cent, to 49.75 cents/lb.

— Reporting for Reuters by Mark Weinraub in Chicago.

Related Articles

Comments

explore

Stories from our other publications