Chicago Mercantile Exchange (CME) lean hog futures turned solidly upward Tuesday, a day after most trading months except October booked declines.
October lean hogs closed Tuesday at 84.85 cents/lb., up 1.6 cents from Monday, while December closed at 76.25 cents, up 1.825 cents on the day (all figures US$).
October hogs had dipped below 82 cents on Monday but rose up through their 50-, 20- and 10-day moving averages before that day’s close, and held above the 10-day average in Tuesday’s trade.
CME live cattle and feeder cattle futures alike booked a second day of declines Tuesday off their recent record highs.
October live cattle closed at 185.675 cents/lb., down 0.65 cents from Monday; April live cattle, which flirted Friday with the $200/cwt mark, fell 0.6 cent to 198.875 cents/lb.
October feeder cattle, meanwhile, closed Tuesday at 259.35 cents/lb.; November also turned lower for a second day at 265.025 cents, down 0.4 cent from Monday’s close. — Glacier FarmMedia Network
