The Chicago Mercantile Exchange’s most-active live cattle and lean hog futures turned lower Monday on a down day overall in livestock trade.
CME June live cattle ended lower Monday after three consecutive days’ climb, at one point dipping below their 10-day moving average before closing at 164.875 cents/lb., down 0.6 cents on the day (all figures US$).
August live cattle, meanwhile, closed Monday at 162.65 cents, down 1.125 cents on the day and below the contract’s 20-day moving average.
Front-month May feeder cattle dipped 1.275 cents on the day, closing at 209.7 cents, while most-active August turned lower for a second day, ending at 230.1 cents, down 0.625 cents.
Most-active June lean hogs ended down two cents on the day at 89.7 cents/lb., at one point slipping below the contract’s 30-day moving average, while thinly-traded front-month May was down 0.35 cent at 79.3 cents/lb. — Glacier FarmMedia Network
