U.S. livestock: Hogs rally ahead of USDA report

Chicago lean hog futures rallied on Tuesday forward of the USDA’s Hogs and Pigs report, due on Thursday.

“The report might present a slight enhance in complete hog inhabitants, however analysts are speculating over what different stats might present and imply for futures costs,” the Wall Avenue Journal reported.

The query is that if producers expanded the breeding herd within the final three months, and what meaning for pork provides subsequent spring and summer season, the report stated, quoting the Steiner Consulting Group.

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Most-active December lean hog futures closed at 90.725 cents a pound, up 1.975 cents. October lean hogs settled at 100.525 cents a pound, up 1.725 cents.

Pork carcass cutout worth sat at $112.68 per cwt within the USDA’s afternoon report, a lack of $0.62.

Most-active December reside cattle futures closed at 238.750 cents per pound, a lack of $1.475. October reside cattle settled at 235.600 cents a pound, down 1.550 cents.

Most-traded November feeder cattle contracts closed at 360.750 cents a pound, up 0.850 cents. October feeders closed at 362.125 cents a pound, up 0.775 cents.

Selection boxed beef was valued at $380.80 per cwt, down $0.59, the USDA reported. Choose boxed beef misplaced $2.19 to shut at $359.90 per cwt.