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.
The October contract rose significantly to 227.75, 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.