Hog and cattle futures fall – Reuters

Register now for FREE unlimited access to reuters.com

CHICAGO, Dec 7 (Reuters) – Chicago Mercantile Exchange hog futures fell for the third day in a row on Tuesday, hitting their lowest in more than a month.

Cattle futures also were weaker, with weak profit margins weighing on the market.

CME February lean hogs settled 1.675 cents lower at 76.55 cents per pound. The contract hit its lowest price since Oct. 29.

Register now for FREE unlimited access to reuters.com

Pork processors earned $30.80 per hog, up from $22.90 per hog on Monday but well below the week-ago level of $51.25, according to livestock marketing advisory service HedgersEdge.

CME February live cattle finished 0.425 cent lower at 139.225 cents per pound. CME January feeder cattle dropped 0.225 cent to end at 165.025 cents per pound.

Profit margins for beef processors on Tuesday fell to $236.90 per head of cattle from $252.25 on Monday and $314.00 a week ago, HedgersEdge said.

Register now for FREE unlimited access to reuters.com

Reporting by Mark Weinraub; Editing by Shailesh Kuber

Our Standards: The Thomson Reuters Trust Principles.