July 16, 2018 / 11:25 PM / 2 months ago

LIVESTOCK-Live cattle futures end higher; lean hog futures slide

    By Julie Ingwersen
    CHICAGO, July 16 (Reuters) - U.S. livestock futures closed
mixed on Monday, with live cattle         rising on
higher-than-expected cash cattle trades and lean hogs        
falling on expectations of rising supplies and worries about
export demand, traders said.
    Live cattle futures rose after fed cattle traded late Friday
in Texas and Kansas at $111 per cwt, which was $2 lower than the
previous week but still well above bids quoted earlier that day
at $108.             
    "That (price) was better than the trade was expecting," said
Rich Nelson, chief strategist with Allendale Inc. "We are
putting some distance between the year's low, which was $106 two
weeks ago," Nelson said.
    CME August live cattle        closed Monday up 2.375 cents
at 106.925 cents per pound while October        rose 1.275 cents
to 108.650 cents.
    CME August feeder cattle futures        settled up 1.650
cents at 152.375 cents per pound and September feeders       
rose 1.375 cents at 152.450 cents.
    Lean hog futures fell on technical selling following a
two-session bounce from contract lows set Wednesday.
    Most-active CME October hogs        settled down 1.300 cents
at 54.000 cents per pound while August hogs        fell 0.950
cent at 69.200 cents. 
    Fears hung over the market that trade tensions with China
and Mexico could curb export demand for U.S. pork.
    "Big-picture issues are (that) record supplies are ahead in
the fourth quarter, and the market doesn't know how to deal with
that - as well as the trade issues," Nelson said.

 (Reporting by Julie Ingwersen
Editing by James Dalgleish)
  
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