Technical buying and short covering boosted lean hog futures at the Chicago Mercantile Exchange on Friday, traders said, extending gains a session after the market climbed by its daily maximum.
Live cattle slipped somewhat but ended the week up 1.2 per cent
Packers losing money processing beef due to tight supply
The program, launched in 2017, came up for its five-year review in 2022
Large supplies of hogs continue to pressure futures, analysts said
Feeding margins have moved into negative territory, setting a negative tone for replacements
China's beef purchases supports live cattle
Plains blizzards and cold winter weather stressed animals and impacted weight gain
Live cattle futures eased on profit-taking and weaker-than-expected cash trades
Live cattle ended the day down, feeder cattle were up
Lean hog futures ended the day mixed