US hog futures rebound on technical bounce - CME

May 15, 2023

Chicago Mercantile Exchange (CME) lean hog futures recovered from contract lows on a round of technical buying on Tuesday, Reuters reported, citing traders.

Traders also noted the recent declines may spark interest in the export market.

"US pork has become some of the cheapest in the world and it would appear we're indeed starting to see international trade come our way," brokerage StoneX said in a research note.

Cattle contracts also ended higher, with strength in the cash market spilling over into futures prices. A decline in corn futures, which makes feed costs cheaper for cattle producers, added support.

Most actively traded June lean hog futures settled 1.1 cents higher at 84.4 cents per pound. The contract found technical support at the low end of its 20-day Bollinger range, after hitting a new low of 82.725 cents.

Tyson Foods Inc plans to resume slaughtering pigs in mid-May at a Madison, Nebraska, pork plant damaged by fire two weeks ago, the meatpacker said on Tuesday.

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Video: Shearing Delay Leads To Kingston 4H Sheep Show!

What started as a disappointment turned into a day full of surprises, fun, and celebration as we leave Ewetopia Farms behind and head out to the Kingston Fair to watch the 4H sheep show

Today’s vlog was supposed to be another sheep shearing day here at Ewetopia Farms, but when our shearer had to cancel, we suddenly found ourselves with an unexpected free day. Lucky for us, the Kingston Fair was happening — and some of our own sheep (and friends) were competing!

We brought along our shearing helper and headed to the fairgrounds to cheer on the 4H kids and see how our sheep did in the show. From last-minute preparations and sheep showmanship to market lamb competitions and ewe classes, we take you behind the scenes of what it’s really like at a country fair.

We couldn’t be prouder — our girls walked away with wins in both showmanship and breeding ewe classes! Afterwards, we toured the fair, met a beekeeper with fascinating insights, admired other livestock shows, and wrapped up the evening with motocross stunts and a demolition derby!

Sometimes farm life throws curveballs — but today, it gave us the chance to celebrate community, our sheep, and the next generation of shepherds.