CME Livestock Review: Pork complex mostly down; cattle mixed

Chicago Mercantile Exchange lean hog and pork belly futures fell sharply Monday (August 24), reversing the early-session gains and stronger closes posted Friday.

Lean hog futures tumbled following initial gains that took the front-month contracts to 2 1/2-week highs. Belly futures turned lower except for the soon-to-expire August contract. After a firm opening, February slid the daily limit of 200 points and closed there at 79.10 cents. August settled 175 points higher at 47.50 cents.

Live cattle futures ended steady to higher Monday amid renewed speculation about cash-market strength this week. Feeder cattle were mostly lower as grains markets gained strength, market analysts said. Seasonal tendencies also were pressuring the feeders, they said.