CME Livestock Outlook: Mixed Hogs; Cattle Mostly Firm
CHICAGO (Dow Jones)–Pit-traded Chicago Mercantile Exchange hogs may open
mixed Monday as traders probe the market for early-week direction. CME pork
bellies may open mixed as traders wait for market leadership that so far is
lacking from fresh belly values that were unquoted Friday. Follow-through
buying after CME live cattle’s modest gains Friday and futures’ discount to
last week’s cash trade might produce a mostly firm market open Monday. The
exchange’s feeder cattle sector could begin flat to firm on possible spillover
buying from futures’ rush to new contract highs last Friday and potential
buying in the neighboring live cattle pit.
By Curt Thacker, Dow Jones Newswires
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