Chicago | Reuters — Chicago Mercantile Exchange live cattle gained modestly on Wednesday during a trading strategy known as bear spreading in which investors sold October futures and simultaneously bought deferred months. Some market participants used the spreads to avoid possible deliveries on Monday evening against the October contract. Profit-taking and uncertainty about this week’s […] Read more
U.S. livestock: Most CME live cattle futures gain on spreads
U.S. livestock: Cash, pork prices send CME hogs higher
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures gained for a second day in a row on Tuesday, strengthened by upward-trending prices for market-ready, or cash, hogs and the morning’s firmer wholesale pork values, said traders. They said October futures led advances after investors actively bought that contract and simultaneously sold deferred months, […] Read more
U.S. livestock: Bargain hunters, fund buying boost CME hogs
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures finished sharply higher on Monday, fueled by bargain buying in the technically oversold market, said traders. They said funds helped accelerate market advances after contracts punched through technical resistance levels. October hogs, which will expire on Oct. 13, ended 1.85 cents/lb. higher at 57.25 cents, […] Read more
U.S. livestock: CME hogs end quarter mostly higher on short-covering
Chicago | Reuters — The bulk of Chicago Mercantile Exchange lean hog contracts on Friday finished higher in the final trading session for the quarter, ignited by fund buying and short-covering, said traders. They said futures rallied from earlier losses on Friday and prior to late Thursday’s U.S. Department of Agriculture quarterly hog report. The […] Read more
U.S. livestock: CME hogs settle mostly lower before USDA report
Chicago | Reuters — Most Chicago Mercantile Exchange lean hog contracts closed lower on Thursday, pressured by profit-taking ahead of the U.S. Department of Agriculture’s quarterly hog report at 2 p.m. CT. “The industry will no doubt show herd expansion and record-large production, it’s just a question of how much,” said Archer Financial Services broker […] Read more
U.S. livestock: Short-covering pulls up CME live cattle
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures on Wednesday reversed some of their recent losses, with strength from technical buying and investors who covered previously held short positions, said traders. “Anyone who was short the market took a little money in profits,” said Oak Investment Group president Joe Ocrant. Wednesday morning’s wholesale […] Read more
U.S. livestock: Funds, short-covering extend CME live cattle gains
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures on Friday closed higher for a third day in a row, led by fund buying and investors who covered previously short positions, said traders. December led advances after funds in CME’s livestock markets that track the Standard + Poor’s Goldman Sachs Commodity Index bought that […] Read more
U.S. livestock: Spreads help drive up CME live cattle futures
Chicago | Reuters — Chicago Mercantile Exchange live cattle closed higher on Thursday after investors bought October futures and simultaneously sold deferred months in a trading strategy known as bull spreads, traders said. Some market participants, also through spreads, purchased live cattle futures and at the same time sold CME lean hog contracts. There are […] Read more
U.S. livestock: CME live cattle gain on firmer beef prices
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures settled moderately higher on Wednesday, with help from short-covering and improved wholesale beef values, said traders. December received added support from fund buying after the contract topped the 10-day moving average of 109.648 cents (all figures US$). October live cattle finished up 0.275 cent/lb. at […] Read more
U.S. livestock: Short-covering, bargain buying boost CME hogs
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures closed higher on Wednesday after bargain buyers and investors covering short positions reversed Tuesday’s slide to an 8-1/2 month low, traders said. Prior to Wednesday’s session CME hogs had a relative strength index (RSI) reading of 17. An RSI below 30 suggests a market is […] Read more
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