Chicago Mercantile Exchange lean hog futures turned lower on Thursday, ahead of a quarterly government report that many traders had predicted would show that U.S. farmers had a slightly larger hog herd, traders said.
Chicago Mercantile Exchange lean hog futures turned higher on Wednesday as fund investors adjusted their positions and sought short-covering, even as many contracts set new lows for a second trading day, traders said.
Analysts surveyed by Reuters project that quarterly USDA data will show the herd on June 1 was about 0.8 per cent bigger than a year earlier and that the number of pigs per litter was up 2.3 per cent in the March-May period.
Chicago Mercantile Exchange (CME) nearby cattle future contracts turned higher on Monday as stronger-than-expected domestic seasonal demand and firm prices in the cash market gave futures a boost, market analysts said.
Chicago Mercantile Exchange (CME) feeder cattle futures turned lower and live cattle were mixed on Friday, as traders squared positions ahead of a closely-watched monthly feedlot report and anticipated smaller cattle placements, traders said.
Chicago Mercantile Exchange (CME) cattle futures were mixed on Thursday, with nearby live cattle contracts ticking higher amid signs of strength in the cash market and consumer demand staying firm, market analysts said.
Chicago Mercantile Exchange (CME) cattle futures turned lower on Tuesday, as a lack of fundamental news and limited trading in the cash cattle market had price drifting down from the recent rally, traders said.
Lean hog futures rallied at the Chicago Mercantile Exchange on Monday, as news of a China-EU trade dispute gave contracts a psychological boost, even though it is unlikely to give U.S. producers a new edge, traders and market analysts said.
Chicago Mercantile Exchange live cattle futures ended mixed on Friday as wholesale beef price firmed and packer margins improved, but traders remain concerned that cash market values may be near a seasonal peak, analysts said.
Live cattle and feeder cattle futures closed mostly lower at the Chicago Mercantile Exchange on Thursday as slow sales of beef products such as hamburgers and steak weighed on prices, Altin Kalo, economist at Steiner Group, said.