July 17, 2018 / 9:55 PM / a month ago

LIVESTOCK-CME lean hog, live cattle futures end lower

    By Julie Ingwersen
    CHICAGO, July 17 (Reuters) - U.S. lean hog futures        
fell on Tuesday for a second straight session, pressured by
technical selling, ample pork supplies and worries that trade
tensions with China and Mexico will curb export demand, traders
said.
    "We still have cheaper grain, increased (hog) weight
potential down the line - all of the above is just coming at us
in the hog market," said Jason Roose, analyst with U.S.
Commodities. 
    Most active CME October hogs        settled down 1.800 cents
at 52.200 cents per pound, while August hogs        fell 1.300
cent at 67.900 cents after notching a contract low at 67.725
cents.  
    Live cattle futures closed lower after a seesaw session as
pressure from rising cattle supplies overshadowed support from
ideas that the nearby futures contract is undervalued versus the
cash market. 
    CME August live cattle        closed Tuesday down 0.500 cent
at 106.425 cents per pound, while fed cattle traded late Friday
in Texas and Kansas at $111 per hundredweight. 
    Cattle futures "are going to basically stay where we are
until they start to get closer to cash, or unless the cash
breaks," said Oak Investment Group President Joe Ocrant.
    CME October live cattle        fell 0.150 cent to 108.500
cents. 
    CME August feeder cattle futures        settled down 1.100
cents at 151.275 cents per pound and September feeders       
fell 0.750 cent at 151.700 cents.  
    Livestock traders are awaiting direction from two big U.S.
Department of Agriculture reports due Friday, including the
government's monthly Cattle on Feed report and its semiannual
cattle inventory report.             

 (Reporting by Julie Ingwersen
Editing by James Dalgleish)
  
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