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By Karl PlumeCHICAGO, May 26 (Reuters) - Chicago Mercantile Exchange lean hog futures settled mostly lower on Wednesday, as investors took profits after some nearby contracts scaled the highest levels in years during the session on strong cash hog and pork prices.Cash hog prices remained firm while pork values hovered near the highest in almost seven years, according to U.S.
5/18/2021
By Mark Weinraub
CHICAGO, May 18 (Reuters) - Lean hog futures rallied on
Tuesday, rising 1.8% on a technical bounce after three straight
days of declines pushed prices to their lowest since April 30,
traders said.
Concerns about a tightening of supplies during grilling
season added support. We are still watching weekly hog slaughter rates, said
Rich Nelson, chief market strategist for Illinois-based broker
Allendale.
U.S. Agriculture Department data showed the daily hog
slaughter held steady at 478,000 head after hitting its lowest
in nearly six weeks on Friday.
In the lean hog market, CME June futures settled up 2
cents at 110.65 cents per pound. The contract broke through
5/4/2021
By Tom Polansek
CHICAGO, May 4 (Reuters) - Chicago Mercantile Exchange lean
hog futures hit contract highs for the third consecutive day on
Tuesday as a strong cash market and tight supplies pushed up
prices.
Solid demand for pork has helped boost the market, with meat
processors paying up to buy hogs from producers, analysts said.
The U.S. Department of Agriculture pork cutout value has
climbed recently, reflecting the demand. The cutout slipped by
$0.48 to $111.18 per cwt for carcasses on Tuesday, though.
Hog supplies remain limited, in contrast to ample supplies
of cattle available in the market, said Rich Nelson, chief
4/28/2021
By Christopher Walljasper
CHICAGO, April 28 (Reuters) - U.S. lean hog futures climbed
on Wednesday, supported by tight supplies and low inventory of
available young hogs for producers as summer demand ramps up,
traders said.
CME most-active June lean hogs added 2.450 cents to
109.125 cents per pound, with all contract months but June
notching life-of-contract highs. Tighter supplies later on this summer should add a bit more
premium, especially to these summer contracts, said Rich
Nelson, chief strategist at Allendale Inc. There s a seasonal
drop in supply.
Hog slaughter has maintained a higher-than-expected rate
through April, when pork production normally begins to slow,