CST DJ CME Livestock Outlook: Some Hogs To Gain On Fundamentals
CHICAGO (Dow Jones)–Pit-traded Chicago Mercantile Exchange hogs are
expected to open mostly firm on solid-performing fundamentals.
Wholesale pork carcass prices registered their 13th straight day of advances
after Monday’s $0.80 per hundredweight higher quote that also reversed pork
packer margin’s recent slide.
Steady-to-stronger cash hog prices are likely Tuesday as processors cope
with tight hog numbers while attempting to keep pace with brisk pork sales.
Nonetheless, front-month futures remain at bearish price premiums to CME’s
lean hog index which could prompt periodic selling into potential upswings.
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Sent at 6:51 AM on Tuesday