Wholesale pork prices hit their highest since mid-November, with the carcass cutout jumping $8.06 to $92.78 per cwt, according to USDA data. Broad market supply and demand conditions are measured by the feeder cattle futures contract price close for the contract closest to but not preceding the delivery date specified by the seller. Prices for select cuts jumped $5.16 to $296.09 per cwt. Department of Agriculture priced choice cuts on Monday morning at $313.69 per CWT, up $3.76 from Friday afternoon. August feeder cattle (FCQ3) finished up 0.7 cent at 242.6 cents per pound.ĬME July lean hog futures (LHN3) settled down 0.5 cent at 84.15 cents per pound. Live cattle contracts have risen for eight straight sessions and feeder cattle contracts have posted gains for five sessions in a row.īut hog futures closed weaker even as pork prices surged higher, as traders cited overbought technical conditions for a pause in the rally that had pushed prices to a two-week high on Friday.īenchmark CME August live cattle futures (LCQ3) settled up 0.375 cent at 173.275 cents per pound after posting a fresh contract high of 174.425 cents. Additionally the goal is to untangle underlying causes of cattle futures price fluctuations. Feeder cattle futures are traded electronically on the Globex platform Monday 09:30 a.m. Chicago Mercantile Exchange extended their rally on Monday, with strong cash prices and technical buyers pushing the market higher. This research aims to assess, describe and model the price behavior of live cattle, live cattle futures contracts and related commodities such as feeder cattle, corn and soybean meal.
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