CME cattle and hog futures fall on weak cash trade
Updated
Updated · The Pig Site · May 8
CME cattle and hog futures fall on weak cash trade
10 articles · Updated · The Pig Site · May 8
June live cattle settled down 3.425 cents at 250.05 cents per pound, while June lean hogs lost 0.325 cent to 99.375 cents.
August feeder cattle dropped 6.875 cents, boxed beef prices fell, and traders cited technical selling and weaker cash cattle trade as pressure on the market.
Packer margins stayed deeply negative, with HedgersEdge estimating losses at $219.40 per head, as a near 75-year-low US herd and the US-Mexico border closure tightened supply.
Amid record losses and an antitrust probe, can the 'Big Four' meatpackers survive the historic cattle supply crisis?
With beef supply chains fracturing, are consumers facing a future of permanently higher prices and limited choices?