LIVESTOCK-Hog, live cattle futures rise on bargain buying

By Mark Weinraub

CHICAGO, Oct 23 (Reuters) - Chicago Mercantile Exchange lean hog and live cattle futures rose on Friday on some bargain buying ahead of the weekend.

Hog futures snapped a three session losing streak, the longest for the December contract in five weeks, while live cattle rebounded from its lowest since June 29.

CME December lean hogs rose 0.825 cent to 67.025 cents per pound.

CME December live cattle futures rose 0.1 cent to 103.575 cents per pound.

But January feeder cattle fell 0.65 cent to 125.55 cents per pound.

Chinese customs data showed that the country imported 380,000 tonnes of pork in September, up 121.6% from September 2019.

A U.S. Agriculture Department report on Friday afternoon showed that the amount of U.S. cattle on feed as of Oct. 1 was 104% of the year earlier total. Analysts had been expecting 103.2%. Cattle placements and marketings during September both came in at 106% of a year ago, topping forecasts for placements of 102.5% and marketings of 105.8%. (Reporting by Mark Weinraub; editing by Grant McCool)

© Copyright Thomson Reuters 2020. Click For Restrictions - http://about.reuters.com/fulllegal.asp

Read more about

Tip of the Day

A useful and versatile shop stand

A roller stand I use this material stand almost daily. The base is a disk blade base. Three sizes of square tubing ( 1½, 1¼, and 1 inch) are all... read more

Talk in Marketing

Most Recent Poll

Have you been attending webinars and virtual events to learn from ag product and service providers?