Lean Hog futures surge past 100
Lean Hog futures rise on cutout values
Virginia McGathey provides a comprehensive look at the livestock markets, starting with Live Cattle futures, which saw firmness due to higher cash trade and renewed demand. 75, though futures remain in a two-week sideways channel. In the feeder cattle market, prices were mixed with a sideways trend, as packers were slow to respond to potential weather catalysts like heat and wildfires. Meanwhile, Lean Hog futures experienced a notable surge, supported by cutout values crossing the 100 mark once again.
Selling pressure has dried up, potentially signaling that a near-term bottom is in place following Friday's lows.