Market participants have been digesting last week's Hogs and Pigs report, with the USDA forecasting the potential for a lesser hog supply in the second half of the year. Also providing support for hog futures is a slower-than-expected slaughter rate last week, according to ADM Investor Services in a note. "Last week's weekly slaughter was 1% lower than a year ago, a shift from higher slaughter rates recently," says analysts with the firm. Lean hog futures are up 0.7% to 97.725 cents a pound, according CFTC data. Live cattle futures settled down 0.9% to $2.4355 a pound. ([email protected])
Dow Jones Newswires
Hogs Finish Higher as USDA Report Gets Digested — Market Talk
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Market participants have been digesting last week's Hogs and Pigs report, with the USDA forecasting the potential for a lesser hog supply in the second half of the year. Also providing support for hog futures is a slower-than-expected slaughter rate last week, according to ADM Investor Services in…