U.S. livestock: Cattle, hog futures climb
| 1 min read
By Dave Bedard
CME April 2023 live cattle with Bollinger bands (20,2). (Barchart)
Chicago Mercantile Exchange (CME) cattle and hog futures came out of their U.S. Presidents Day break trading higher, with front-month live cattle posting eight-year highs.
CME February 2023 live cattle touched 164.975 cents/lb. in Tuesday’s trade before closing at 164.75 cents, up 1.175 cents from Friday’s close and the highest close for the front-month contract on a continuous chart since December 2014.
Most heavily traded April live cattle closed at 165.1 cents, up 0.45 cent (all figures US$).
March feeder cattle also closed higher, for a second straight day, ending at 186.875 cents, up 0.35 cent.
CME April lean hogs rebounded off three straight days of losses Tuesday, ending up 3.825 cents/lb., at 89.1 cents, its highest close since Jan. 10. May hogs ended at 91.175 cents, up 2.775 cents. — Glacier FarmMedia Network
