Cattle & Hog Prices Mixed

01 May in Blog, commodity broker, feeder cattle futures, futures broker, futures trading, lean hogs futures, live cattle futures, Michael Seery, option broker, Seery Futures LLC

Meat Futures--- Live cattle futures this morning sold off around 60 points a quiet trade in Chicago today to close in the June contract at 113.52 right near contract lows which were created late last week while feeder cattle finished slightly higher finishing up by more than 50 points to close at 154.20 in the August contract also in very light trade today. Lean hogs futures for the June contract finished basically unchanged but making new intraday contract lows settling right around 86.02 a pound continuing its bearish momentum throughout the last 2 months and grinding lower on a daily basis. The lean hog market is in a serious bearish trend and historically $.86 cents a pound is still expensive you could possibly see hog futures drop further from these levels throughout the rest of the spring especially if feed costs continue to climb which soybean meal and soybeans are doing at this current time. Remember live cattle and feeder cattle prices even after this recent decline are still extremely expensive historically speaking so if a bear market is underway prices could head a lot lower. . If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.

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