Chicago Mercantile Exchange live cattle and lean hog futures stabilized on Tuesday after sliding during the previous session on fears that the U.S. may be headed for a recession.
Chicago Mercantile Exchange (CME) cattle futures plunged sharply on Friday, with back-month feeder cattle contracts setting new lows, as signs of a weakening U.S. economy spurred market participants to unwind long positions and seek cover, traders said.
Chicago Mercantile Exchange (CME) cattle futures turned lower on Thursday, with the most-active feeder cattle contract FCU24 falling more than two per cent, amid a flurry of fund selling and signs of weakening consumer demand.
Chicago Mercantile Exchange (CME) lean hog futures firmed on technical trading and weaker wholesale prices on Wednesday, while live cattle futures ended lower on a day of choppy trade, market analysts said.
Chicago Mercantile Exchange (CME) live and feeder cattle futures turned higher on Tuesday as the cash cattle market remained strong, while lean hogs turned lower as traders anticipated slowing ham sales.
Chicago Mercantile Exchange (CME) livestock futures turned lower on Monday, as cattle futures fell on signs of profit taking, a steady cattle cash market and uncertainty about consumer demand for beef this fall, market analysts said.
Chicago Mercantile Exchange (CME) cattle futures ticked up Friday on steep losses in the U.S. grains market, while lean hogs mostly firmed on short-covering, analysts said.
Chicago Mercantile Exchange (CME) lean hog futures ticked up on technical trading on Wednesday, while cattle futures were mixed to lower, analysts said.
Chicago Mercantile Exchange (CME) livestock futures turned higher on Tuesday, with cattle futures continuing to firm amid signals that cash market prices may ease, market analysts said.
Chicago Mercantile Exchange (CME) cattle futures ended higher on Monday on technical trading, and as futures prices continued to hover well below the cash market levels, analysts said.