Chicago Mercantile Exchange cattle futures touched their highest prices since November on Wednesday after severe winter weather has slowed weight gains for livestock and disrupted slaughtering, analysts said.
Lean hogs ended slightly up after early plunge
Feeder cattle firmed amid dropping corn futures
Lean hog futures also finished higher
Deferred live cattle futures and feeder cattle futures finished stronger
Lean hogs rose on hopes that U.S. cash prices had reached bottom
Live cattle slipped somewhat but ended the week up 1.2 per cent
Packers losing money processing beef due to tight supply
Large supplies of hogs continue to pressure futures, analysts said
China's beef purchases supports live cattle
Plains blizzards and cold winter weather stressed animals and impacted weight gain