May 21, 2004

US Hog, Cattle Prices Seen Lower

Some pressure could be seen on both cattle and hog prices again today.

Cash hogs are called $0.50 to $1 lower. Packers took in sufficient numbers Wednesday without much effort, and may not need to buy too many more hogs for the rest of the week.

Cash cattle trade was fairly active Wednesday in the North, and southern action should follow today, with cash prices moving down to meet futures trading levels.