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Mint
30-05-2025
- Business
- Mint
CME lean hog futures firm on wholesale prices
By Renee Hickman CHICAGO, May 30 (Reuters) - Chicago Mercantile Exchange lean hog futures rallied on Friday after a big jump in wholesale values, according to analysts. Most actively traded CME July lean hog futures rose 1.950 cents to settle at 104.925 cents per pound. August feeder cattle ended down 1.100 cents at 298.825 cents per pound. August live cattle lost 0.725 cent to finish at 209.350 cents per pound. Lean hog futures drew support from pork belly prices climbing, said Doug Houghton, an analyst and editor at Brock Associates. Technical buying also added support, Houghton said. The U.S. Department of Agriculture reported pork bellies rose $6.94 to $157.10 per hundredweight (cwt) on Friday afternoon. Pork carcasses rose $2.60 to $107.22 per cwt. The CME's Lean Hog Index, a two-day weighted average of cash prices, was up 0.61 cent at 94.13 cents per pound. Houghton said that in cattle, "The market had this big drop two weeks ago, and it's kind of gradually climbing its way back, but it didn't finish very well today." Cash prices continued to be strong and futures were discounted to the cash prices, Houghton said. Market-ready cattle traded in Texas at $223 per hundredweight (cwt), and in Kansas at $222 per hundredweight, according to the U.S. Department of Agriculture, up $1 to $3 from last week. But, large speculators hold a sizable net long positions in CME live cattle futures, leaving the market vulnerable to bouts of long liquidation. Beefpackers averaged losses of $98.45 per head compared to losses of $112.10 per head, according to livestock marketing advisory service The USDA priced choice cuts of boxed beef at $366.34 per cwt on Friday afternoon, up 25 cents from Thursday, while select cuts were up $3.01 at $356.65.
Globe and Mail
05-04-2025
- Business
- Globe and Mail
Hogs Slip into Thursday's Close
Lean hog futures ended the Thursday session with contracts down 7 to 95 cents in the front months. USDA's national average base hog negotiated price was down $1.21 from the day prior at $87.67 in the Thursday PM report. CME's Lean Hog Index from April 1 was up 15 from the previous day on at $88.80. In response to President Trump's reciprocal tariffs, China issued a retaliatory tariff of 34% on all US goods overnight. Pork export sales totaled 52,953 MT in the week that ended on March 27, the largest so far this MY. Mexico was the buyer of 30,600 MT, with 10,300 MT to China. Export shipments came in at 32,899 MT, which was a 3-week high. Of that total, 12,200 MT was headed to Mexico, with 5,200 MT to South Korea. Census trade data was released on Thursday morning, with a converted carcass basis total of 565.2 million lbs of pork exported in February. That was a 2% decline from January and down 4.8% from last year. USDA's pork cutout value from Thursday afternoon was up $1.11 at $94.81 per cwt. The belly, picnic and rib primals were reported lower, with the loin leading the charge higher, up $7.04. USDA estimated the Thursday Federally inspected hog slaughter at 488,000 head, with a weekly total at 1.926 million head. That is down 13,000 head from last week but 106,548 head above the same week last year. Apr 25 Hogs closed at $87.375, down $0.075, May 25 Hogs closed at $88.575, down $0.550 Jun 25 Hogs closed at $95.550, down $0.975,
Globe and Mail
03-04-2025
- Business
- Globe and Mail
Hogs Leak Lower on Thursday
Lean hog futures ended the back and forth Thursday session with contracts down 7 to 95 cents in the nearbys. The USDA national average base hog negotiated price was down $1.21 from the day prior at $87.67 in the Thursday PM report. CME's Lean Hog Index from April 1 was up 15 from the previous day on at $88.80. Wednesday's 'Liberation Day' tariffs came with Mexico and Canada left off the list and the exemption on all USMCA compliant goods remaining in place. Reciprocal tariffs were put in place on Japan at 24%, South Korea at 25% and China at 34% (54% including the initial set of tariffs from earlier this year). They go into effect on April 9. Pork export sales totaled 52,953 MT in the week that ended on March 27, the largest so far this MY. Mexico was the buyer of 30,600 MT, with 10,300 MT to China. Export shipments came in at 32,899 MT, which was a 3-week high. Of that total, 12,200 MT was headed to Mexico, with 5,200 MT to South Korea. Census trade data was released this morning, with a converted carcass basis total of 565.2 million lbs of pork exported in February. That was a 2% decline from January and down 4.8% from last year. USDA's pork cutout value from Thursday afternoon was up $1.11 at $94.81 per cwt. The belly, picnic and rib primals were reported lower, with the loin leading the charge higher, up $7.04. USDA estimated the Thursday Federally inspected hog slaughter at 488,000 head, with a weekly total at 1.926 million head. That is down 13,000 head from last week but 106,548 head above the same week last year. Apr 25 Hogs closed at $87.375, down $0.075, May 25 Hogs closed at $88.575, down $0.550 Jun 25 Hogs closed at $95.550, down $0.975,
