Chicago | Reuters — Chicago Mercantile Exchange live cattle futures rose on a round of technical buying on Tuesday after snapping an eight-session losing streak on Monday, traders said.
Hog futures rallied on a bargain-buying bounce after sinking to their lowest in more than a month and feeder cattle futures also were firm.
CME April live cattle ended up 1.15 cents at 139.05 cents/lb. (all figures US$). Resistance was noted at the contract’s 200-day moving average.
April feeder cattle rose 0.65 cent, to 160.325 cents.
CME April lean hog futures closed up 2.65 cents to end at 102.925 cents/lb. June hogs rose 3.675 cents to finish at 114.675 cents/lb.
Choice cuts of boxed beef fell by $2.27, to $252.44/cwt, the U.S. Department of Agriculture said. Select cuts dropped by $5.28, to $244.94/cwt.
— Reporting for Reuters by Mark Weinraub in Chicago.
