Weaker Cash, Pork Prices Drop CME Futures; Live Cattle Lower

Winter weather caused problems for hog and cattle marketers this past week, influencing futures markets for both commodities. ( Photo: AgWeb )

Chicago Mercantile Exchange lean hog futures on Friday were pressured by lower cash and wholesale pork prices, said traders.

They said February futures lost technical support while other contracts triggered sell stops after drifting below Thursday's lows.

February hogs closed down 0.225 cent per pound to 73.175 cents, below the 20-day moving average of 73.204 cents. Most-active April finished 0.600 cent lower at 68.850 cents.

A wide swath of snow in the U.S. Midwest snarled transportation of hogs and shut down at least two packing plants, traders and analysts said.

Some packers avoided paying more for hogs while trying to improve their margins that were capped by the drop in wholesale

pork values due to slumping pork belly prices. Still, lower wholesale pork belly prices might encourage processors and bacon slicers to store more product for late spring and summer use, a trader said.

Mostly Weak Live Cattle, Again

CME live cattle contracts ended Friday's session as it did on Thursday, mostly weaker as investors waited for this week's weather-influenced cash cattle prices, said traders.

Snow drifts in feedlots make it difficult to sort and load cattle, while cold temperatures slow animal weight gains. Both factors limit supplies to processors.

February futures were supported by this week's potential cash outcome, but other contracts were pressured by forecasts for increased supplies ahead.

"We should have a month or two of tighter (cattle) numbers up front, but then the numbers get pretty sizeable once again," said INTL FCStone chief commodities economist Arlan Suderman.

February live cattle closed up 0.750 cent per pound at 126.525 cents. April ended down 0.100 cent at 123.625 cents, and June finished down 0.100 cent at 115.425 cents.

Wintry weather in the U.S. Plains and packers that raised bids to $126 per cwt on Friday from $124 earlier this week encouraged February futures buyers.

Feedlots this week are asking $129 to $130 per cwt for their animals that last week brought $125 to $126. Some processors may think twice about spending more for supplies, as beef demand struggles against plentiful competitively-priced pork and chicken.

When you look at expectations for increased beef, pork and poultry production this year, "that's a lot of protein hitting the market," said Suderman.

Technical selling and weaker back-month CME live cattle futures dragged down the exchange's feeder cattle contracts, March feeders ended 0.900 cent per pound lower at 147.750 cents.




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 nfl shop on Fri, 04/13/2018 - 21:16

The NFL jersesys shop scene of the postseason Saints's regrettable exit last year is still vivid. Defensive end-user Cameron Jordan believes that if the defense team is stronger then the SaintsShop NFL Jerseys By Team may get the Super Bowl. Into the offseason, Jordan has been trying very hard to recruit Endem Kong Su, but he was disappointed that Sue eventuallyBuy Custom NFL Jerseys chose the Lost and Lost Los Angeles, he chatted endlessly in the interview complained that Su could not wear the black shirt. "The ability Shop NFL Hatsto introduce players like Su is definitely a huge improvement, but it's clear he's more interested in Los Angeles." Jordan said in a live interview: "I'mShop NFL T-Shirts not saying I'm disappointed but just feel a bit sorry. The experience of the past year has given I know a lot, I think we had a chance to recruit him, butShop NFL Hoodie
I didn't succeed.San Francisco 49ers Jerseys I think we can go fishing in the weekend in Louisiana, we can do everything and we can take him everywhere. The Super Bowl is even Philadelphia Eagles Jerseysmore eager to go further in the playoffs. The Rams have done a lot of big things during the offseason and will be our strongest Customized New England Patriots Jerseysopponents." It's a partnership with a defensive beast like Su that I believe is a dream for any player. Cameron JordanCustomized Cincinnati Bengals Jerseys also used to make a double-ghost match with Su, but in the twinkling of an eye, Su chose the league's best defensiveLos Angeles Rams Hats player, Aaron Donald, and turned from a teammate to an opponent. "I want to say that our defense was very good last year, but he needs aAtlanta Falcons Hats strong core. I just want more powerful teammates." Although he did not win the Soviet Union, the biggest thing the Saints team did during Jacksonville Jaguars Hoodiethe offseason was Renewed quarterback Drew Bliss, considering that Brisbane is 39 years old, the team has to find his successor.Washington Redskins Hoodie Judging from the team’s 27th pick, they have only two excellent quarterbacks. One is Lamar Jackson of the University of LouisvilleTennessee Titans Hoodie and the other is Mason-Lu of Oklahoma State. Astoria. If you are the Saint General Manager, then who would you choose? Cameron JordanDenver Broncos T-shirts gives such an answer. "If I'm looking for a future quarterback, then I'll give him the same treatment as Aaron Rogers. Let him learn aChicago Bears T-shirts few years behind Brisbane, and then let him play." Jordan pulled in the screen Mar-Jackson said that he clearly pointed out that the reporterArizona Cardinals T-shirts soon realized this: "Are you talking about Lamar Jackson?" Jordan joked: "No, no, no. I mean Sheldon-Jenkins of Louisville. "We Kansas City Chiefs Hatsknow that a few months of predictions may become meaningless in the hours of the NFL draft show. I don't know how Lamar Jackson willCustomized Jacksonville Jaguars Jerseys feel when he hears Cameron Jordan's remarks. Lang has a good intention, and the Saints also want to prevent the otherPittsburgh Steelers Jerseys team from winning.