July 13, 2018 / 9:29 PM / 8 months ago

LIVESTOCK-Hog futures up, live cattle decline on spreading

    By Michael Hirtzer
    CHICAGO, July 13 (Reuters) - U.S. livestock futures were
mixed on Friday, with lean hogs         sharply higher and live
cattle         narrowly lower in largely technically driven and
spread trading, dealers said.
    Friday was the final day of the five-day roll for funds
tracking Standard & Poor's Goldman Sachs Commodity Index
         , and investors moving out of front months helped to
prop up some deferred livestock futures contracts.
    Deferred lean hogs contracts jumped for the second straight
session - after tumbling to life-of-contract lows during the
first three days of this week. 
    Hog futures rose despite generally weaker prices for the
animals in cash markets and a seasonal downward trend in
wholesale pork values. 
    CME October hogs        became the most actively traded
contract, finishing up 1.350 cents at 55.300 cents per pound
while August hogs        edged 0.275 cent lower at 70.150 cents.
    Cash hogs in Iowa and southern Minnesota were down a penny
at $73.52 per cwt and wholesale pork was up 31 cents to $83.82
per cwt, according to the U.S. Department of Agriculture.
    "There's a lack of new information ... it's positioning more
than anything," a cattle and hog futures trader said of Friday's
    CME August live cattle        settled 0.475 cent lower at
104.550 cents per pound while the deferred October contract
       fell only 0.225 cent to 107.375 cents.
    CME August feeder cattle futures        settled down 0.300
cent to 150.725 cents per pound and September feeders       
climbed 0.100 cent to 151.075 cents.
    After futures trading closed, feedlots in Texas and Kansas
sold cattle to beef packers at about $111 per cwt, in deals that
were about $2 lower than a week ago.         
    Commodity Futures Trading Commission weekly data showed that
speculative investors in the trading week that ended on Tuesday
added to net long positions in live and feeder cattle futures
and added to a net short position in hog futures.             

 (Reporting by Michael Hirtzer, Editing by Rosalba O'Brien)
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