CME Live Cattle, Hog Futures Close Higher

Chicago Mercantile Exchange live cattle hit a two-week high on Thursday, driven by short-covering and futures’ discounts to this week’s prices for slaughter-ready, or cash, cattle, said traders.

Remaining cash prices in parts of the northern U.S. Plains might benefit from tight cattle supplies along with forecasts for heavy snow and high winds through the weekend, they said.

“It’s is going to be a typical good old spring-time blizzard. It will affect feedyards and hog farms in its path,” a feedlot manager said.

April live cattle closed up 2.300 cents per pound at 115.800 cents, and above the 20-day moving average of 115.660. June ended 2.125 cents higher at 103.700 cents and above the 10-day moving average of 102.282.

So far this week cash cattle in the Plains traded from $114 to $118 per cwt compared to mostly $116 to $118 a week earlier.

Cash cattle prices were better than expected given last week’s steep drop which, along with lighter cattle weights, suggest they may have been stabilizing, said Midwest Market President Brian Hoops.

“So that is seen as a minor victory, and enough to give us some short-covering in the cattle market,” said Hoops.

Some feedlots are holding out for at least $119 per cwt for unsold cattle emboldened by reduced cattle weights, winter-like weather and impressive packer profits.

CME feeder cattle closed up sharply on technical buying and live cattle futures gains.

April closed 3.600 cents per pound higher at 138.875 cents.

Hogs Settle Higher

Upward trending cash prices and buying in CME’s neighboring cattle markets boosted the exchange’s lean hog contracts, said traders.

Packers raised bids for hogs while capitalizing on their long string of good profits and to ensure themselves of supplies before winter-like weather arrives in the Midwest over the weekend.

April hogs closed 1.000 cents per pound higher at 54.300 cents. May ended 1.400 cents higher at 69.325 cents. 

 

Comments

Restricted HTML

  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol start type> <li> <dl> <dt> <dd> <h2 id> <h3 id> <h4 id> <h5 id> <h6 id>
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.
Submitted by fgjghjhj on Fri, 04/13/2018 - 22:04

While most believe the cardinals will trade up for the quarterback, cheap jerseys wholesale the cardinals run David Johnson, who is already satisfied with the situation.

The all-pro sprinter said he believes the cardinals' offensive is expected to return to the 2015
WOMEN JERSEYS season if the quarterback Sam Bradford stays healthy.

"As long as Bradford stays healthy, we're going to be very good," Johnson said on Wednesday morning on the radio show. Personally, I have seen many of his best qualities in the video, NFL Sunglasses and the key is to stay healthy.

"With the addition of Bradford, the new offensive line, St.Louis Rams Jersey the take-over and all the other new players are key. I believe the cardinals will be in the league next season.

The performance of Bradford in the opening game of the 2017 season (346 yards, 346 yards) was impressive. Even when the vikings were not strong enough to attack in 2016, he got a good result: a 71.6 percent pass, and a 20+ yard accuracy rate.