May 18, 2021
CME Live cattle futures settled unchanged, hog futures down
Live cattle futures on the Chicago Mercantile Exchange (CME) settled unchanged on Monday, while hog futures declined for the third straight day, Reuters reported.
Cattle futures had dropped with corn futures at the end of last week, their lowest since May 6 this year.
The CME June live cattle contract ended higher but closed below its session peak as it failed to pass its 20-day moving average. The most active August live cattle futures hit resistance at their 50-day moving average.
June live cattle futures on the CME ended 0.05 cents higher at 115.35 cents per pound. Live cattle futures for August was 0.4 cents lower to 118.425 cents.
August feeder cattle increased 1.6 cents to 152.75 cents per pound.
Last week's sharp drop in corn benefitted feeder cattle, which can increase profit margins for livestock producers.
CME June live hog futures ended 0.075 cents down at 108.65 cents per pound. The contract did not manage to hold support above its 20-day moving average.