CME Lean Hog ​​Futures Firm on wholesale prices | Einsmark news

By Renee Hickman Chicago, May 30 (Reuters) – Chicago Mercantile Exchange Lean Hog ​​Futures on Friday agreed to a large jump in wholesale values, according to analysts. Most actively traded CME July Lean Hog ​​futures rose 1,950 cents to settle at 104,925 cents per pound. August -feeding ended 1,100 cents with 298,825 cents per pound. Living cattle of August lost 0.725 cents to finish by 209,350 cents per pound. Doug Houghton, an analyst and editor of Brock Associates, said that Doug Houghton, an analyst and editor at Brock Associates, supported the prices of pork. Technical buying also added support, Houghton said. The US Department of Agriculture reported on Friday afternoon that pork bellies rose $ 6.94 to $ 157.10 per hundred weight (CWT). Pork carcasses rose $ 2.60 to $ 107.22 per CWT. The CME’s Lean Hog ​​index, a two-day weighted average of cash prices, rose 0.61 cents by 94.13 cents per pound. Houghton said in cattle: “The market had this big drop two weeks ago, and it is a kind of gradual to climb back, but it has not ended well today.” Cash prices were still strong and futures were discounted at cash prices, Houghton said. According to the US Department of Agriculture, the market ridden in Texas traded at $ 223 per hundred weight (CWT), and according to the US Department of Agriculture, $ 1 to $ 3 from last week. But large speculators hold a significant net long positions in CME Live Cattle Futures, making the market vulnerable to long liquidation. Beefpackers have an average of $ 98.45 per head on average compared to the losses of $ 112.10 per head, according to the livestock marketing advisory service hedgersedge.com. The USDA prize -chose -cuts of box meat at $ 366.34 per CWT Friday afternoon, higher than 25 cents from Thursday, while Select Cuts rose $ 3.01 to $ 356.65. (Reporting by Renee Hickman in Chicago; Editing by Mohammed Safi Shamsi)