Live Cattle Futures has recently ended lower on Thursday on profit-taking and fund liquidation grounds. The records came ahead of the monthly cattle on feed report of the U.S. Agriculture Department. The data came a little less than expected after firming trades the night before. The futures recovered on Tuesday from the Monday’s declines.
The data for the feeder cattle also indicated a similar performance as the live cattle. However, the figures for the Hog futures were mixed during the period. Despite such, bulls were seen in its recent indications.
Pork is one of the most common meats around the world and thus making the demand for pork strong and high no matter what season it is.
The recovery from last Monday’s declines rooted from the good profit margin of packers. Their recent bids were reported to be around the range of $120 to $121 per cwt against $124 to $125 asking prices.
Live Cattle Trades
The latest data recorded for trades of the Live Cattle Futures at the Chicago Mercantile Exchange came in a little lower on Thursday. It was a -1.07% decline which is likewise a -1.275 decrease from the recent session.
However, the Coppock curve indicated optimism towards its coming trades. The curve recorded an indication at the positive level, specifically at 3.21. With this, a buy would be rather advised.
Lean Hog Trades
The data for the trades of Lean Hog ended a little higher at the Chicago Mercantile Exchange. The bullish candles indicated in its recent sessions served as a signal that it may remain bullish soon. It added 0.39% or 0.275 points generally.
The data above can be supported by the futures’ Coppock curve. The indicator ended high as well at the positive level with a specific record at 8.69. A buy would also be then advised for the said commodity.
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