July 23, 2018 / 7:55 PM / 5 months ago

LIVESTOCK-CME cattle, hog futures mixed in technical moves

    By Mark Weinraub
    CHICAGO, July 23 (Reuters) - U.S. live cattle and hog
futures were mixed on Monday, with front-month contracts easing
slightly while deferreds firmed in technical moves.
    Traders were unwinding bull spreads as they awaited the 
U.S. Agriculture Department's cold storage report, which was
released after markets closed.
    Monday afternoon's USDA cold storage report showed
month-over-month declines for June pork and beef inventories,
which some traders may view as supportive for CME lean hog
futures on Tuesday, said analysts. Typically, the exchange’s
live cattle contracts do not respond to U.S. government cold
storage results unless there is a significant increase or
decrease in beef stocks, they said.             
    Most active CME October hogs        settled up 1.350 cents
at 52.625 cents per pound while August hogs        dropped 0.025
cent at 66.425 cents.
    CME August live cattle        ended 0.200 cent lower at
108.725 cents per pound. CME October live cattle        was up
0.350 cent at 110.600 cents. 
    CME August feeder cattle futures         dropped 0.425 cent
to 153.325 cents per pound and September feeders         were
0.225 cent lower at 154.325 cents.  

 (Additional reporting by Theopolis Waters
Editing by Marguerita Choy)
  
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