he Chicago Mercantile Exchange (CME) saw divergent trends on Monday, with feeder cattle futures retreating after a strong rally and lean hog futures advancing on robust wholesale pork prices.
Feeder Cattle and Live Cattle Decline After Rally
Feeder cattle futures experienced...
Market showing signs of a change of direction. Outside days, reversals, & breaking trend lines could contribute evidence of the turn. Increasing volume would confirm the change whereas decreasing volume would indicate the move is temporary.
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Ontario Market Highlights:
Base Formula Price: Declined slightly to $221.76/cwt, compared to $227.02/cwt the previous week.
Dressed Weight Average: Remained stable at 106.88 kg.
Market Hogs Sold: Totaled 123,399, representing 111% of the volume from the same week last...
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Margins deteriorated over the first half of November, particularly in nearby marketing periods, as hog prices declined while projected feed costs were mixed with corn slightly higher and soybean meal lower. CME Lean Hog futures succumbed to pressure from...
The USDA’s November 2024 Livestock, Dairy, and Poultry Outlook delivers critical insights into the swine industry, covering production, pricing, and export trends as the year winds down. Here’s a full breakdown of the latest developments and projections.
Production Trends
Fourth-Quarter...
Ontario Market Overview:
Base Formula Price: Rose slightly to $227.02 per ckg, up from $226.88 the previous week.
Average Dressed Weight: Slightly declined to 106.56 kg.
Weaned Pig Value: Increased to $59.03 per pig.
Feeder Pig Value: Reached $93.65...
On Friday, Chicago Mercantile Exchange (CME) lean hog futures dipped due to technical selling and a drop in pork cutout values. December lean hog futures (LHZ24) fell by 0.600 cents to 79.500 cents per pound. The decline in pork...
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For those interested I hold a weekly livestock webinar on Tuesdays and my next webinar...
If you would like to receive more information on the commodity markets, please use the link to join our email list – Sign Up Now
For those interested I hold a weekly livestock webinar on Tuesdays and my next webinar...