US hog markets sag- CME

Aug 14, 2023

Chicago Mercantile Exchange (CME) live cattle futures strengthened on Wednesday as tight US supplies continued to support the market, Reuters reported, citing analysts.

Feeder cattle futures also advanced, while lean hog futures declined.

The live cattle market is largely trading sideways in the most-active contract this week after finishing with strong gains on Friday, analysts said.

Limited supplies continue to support the market, after producers have sent more cattle to slaughter as drought has reduced the amount of pasture available for grazing.

"You're still seeing the effects of tighter numbers," a broker said.

CME August live cattle futures ended 0.875 cent higher at 180.575 cents per pound. Most-active October live cattle rose 0.800 cent to 181.700 cents per pound.

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