Theopolis Waters

Chicago Mercantile Exchange hogs closed higher on Friday as strong pork prices lifted futures for a third straight session, traders and analysts said. Friday morning’s USDA mandatory wholesale pork price report, or cutout, was $103.67 per hundredweight (cwt). The price surged $2.89 from Thursday to its highest since $104.86 on July 9. Tight supplies of […] Read more

Chicago Mercantile Exchange live cattle slumped on Thursday as eroding corn prices stirred selling that trumped initial speculative buying, traders and analysts said. “Usually when you have back-month futures higher than the front contract, the thing that will hurt the most is if corn gets cheaper,” KIS Futures vice-president Lane Broadbent said. Less-costly corn might […] Read more

Chicago Mercantile Exchange hog futures rallied on Wednesday driven by higher cash hog and wholesale pork prices, analysts and traders said. The U.S. Department of Agriculture data showed the average hog price Wednesday morning at the most-watched Iowa/Minnesota market at $98.66 per hundredweight (cwt), up $2.80 from Tuesday. Wednesday morning’s USDA mandatory wholesale pork price […] Read more

Chicago Mercantile Exchange hog futures fell on Tuesday in anticipation of lower-trending cash hog prices caused by packers working to improve operating, analysts and traders said. The U.S. Department of Agriculture data showed the average hog price Tuesday afternoon at the most-watched Iowa/Minnesota market at $95.78 per hundredweight (cwt), down 48 cents from Monday. Some […] Read more

Chicago Mercantile Exchange hog futures slumped Thursday in anticipation of lower-trending cash hog prices, traders and analysts said. Mixed cash hog returns on Thursday suggest negative margins prompted some packers to reduce slaughter, which should underpin the cutout, a trader said. Other processors may curb slaughter rates after they pad inventories for the rest of […] Read more