July 30, 2018 / 9:53 PM / 4 months ago

LIVESTOCK-Cattle futures lower after weaker cash trades, hogs mixed

    By Michael Hirtzer
    CHICAGO, July 30 (Reuters) - Chicago Mercantile Exchange
live cattle futures         edged lower on Monday, under
pressure from weaker trades in U.S. Plains cash cattle markets
that occurred after futures markets closed late on Friday,
traders and analysts said.
    Feeder cattle futures         also eased, tracking declines
in the more actively traded live cattle market, while lean hog
futures         were mixed.
    CME August live cattle        finished 0.200 cent to 108.425
cents per pound and most-active October cattle        shed 0.675
cent to 109.800 cents.
    Futures remained slightly discounted to the cash market,
with slaughter-ready cattle fetching $112 per cwt in Texas,
Kansas and Nebraska on Friday, in deals that were about $1 per
cwt lower than the previous week, feedlot sources said.
    CME August feeder cattle        were down 0.800 cent to
151.500 cents per pound.
    In the hog market, the front-month August contract       
fell to a lifetime low of 63.200 cents per pound before settling
at 63.300 cents, down 0.350 cent. All deferred contracts were
narrowly higher, with most-active October hogs        gained
0.350 cent to 51.225 cents.
    "Hogs just keep trading heavy supply and tariff worries,"
said Scott Varilek, a broker at Kooima and Kaemingk Commodities
Inc.
    Tariffs on U.S. pork in Mexico and China were threatening
future export demand, weighing on prices for hogs after U.S.
Department of Agriculture data a month ago showed a nearly
record-large U.S. hog herd.
    USDA said cash hog prices on Monday in the top cash market
of Iowa and southern Minnesota were down $1.69 to $61.01 per
cwt.         
    Wholesale pork prices dropped $2.43 to $74.54 per cwt and
choice-grade beef was down 42 cents to $204.72 per cwt.         
          

 (Reporting by Michael Hirtzer; editing by Grant McCool)
  
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