January 8, 2019 / 8:33 PM / in 4 months

LIVESTOCK-Hog futures rise on China hopes; cattle hits contract highs

    By Mark Weinraub
    CHICAGO, Jan 8 (Reuters) - Chicago Mercantile Exchange hog
futures were mostly higher on Tuesday, supported by prospects
for improving export demand, traders said.
   The market was waiting for a pickup in deals from China due
to the spread of African swine fever there. 
   "That hope is still out there, but it's elusive, and it's up
to China," said Don Roose, president of U.S. Commodities in West
Des Moines, Iowa.
    Record U.S. supplies kept futures market gains in check. 
    CME February hog futures         settled up 0.700 cent at
62.600 cents per pound.
    Cattle futures were strong, with the front-month February
live cattle contract         hitting an all-time high on support
from steady cash trade. CME February live cattle         settled
up 2.10 cents at 125.300 cents per pound, just off its session
high.
    CME March feeder cattle         was up 1.500 cents at
145.400 cents per pound.

 (Reporting by Mark Weinraub
Editing by Leslie Adler)
  
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