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Meats Futures Prices

Sun, May 31st, 2020
[[ timeframe ]] futures price quotes as of Sun, May 31st, 2020.
Latest price quotes as of [[ snapshotDate ]].
[[ timeframe ]] futures price quotes, based on [[ timeframe ]] data.
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Futures Market News and Commentary

Cattle Close Lower for Weekend

Cattle futures traded $1.37 to $1.75 lower on Friday. For June contracts that wasn’t enough to erase previous moves, as June cattle closed 2.5% higher on the week. From Friday to Friday August feeders gained $6.07, but closed the day with 15 cent losses going into the weekend. The other front months closed 50 to 92 cents lower, after rallying back from triple digit losses at midday. The May 28 CME Feeder Cattle Index was $2.34 higher to $129.36. Cash sales for Friday were limited at $118-$120, sales this week were mostly $115 to $120 with the bulk at $120. The weekly CoT update showed spec traders were buyers of fat cattle contracts wk/wk. On May 26, their net position was 14,977 contracts long. Feeder cattle specs were also net long, but only by 654 contracts. In USDA’s weekly Export Sales report, beef bookings were 11,483 MT. That was the highest since the week ending April 9, but 2,500 MT below the pre-shutdown 2020 average. Weekly beef exports in the report were 11,270 MT, which... Read more

Hogs Come Back from Midday Lows

Lean hog futures rallied back from midday losses and closed $0.95 to $1.70 higher. Save for June hogs which ended Friday’s session with a 7 cent loss. The CME Lean Hog index was up 42 cents on May 27, to $62.95. USDA National Average Base Hog price was $37.45 on Friday, down by $0.37. The average base hog price for the WCB region was $37.98. Commitment of Traders data showed that on Tuesday lean hog spec traders were 903 contracts more long for the week to 10,273 on net. Managed money open interest was up 4,041 contracts to 82,825. In the Export Sales report from USDA, 20,579 MT of pork was sold. Unshipped sales were down on the week at 289,785 MT due to a solid 34,470 MT of pork shipments. Total shipments for the year are up to 827,529 MT. Total commitments are 40.6% ahead of last year’s pace. The National Pork Carcass Cutout Value was $88.20 on Friday, down by $1.26. FI hog slaughter for the week through Saturday is estimated at 1.97m head. YTD slaughter is 52.1m head compared to... Read more

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