CME cattle futures rise as lean hogs hit new contract lows
CME live and feeder cattle futures rose on Wednesday, while December lean hogs fell to a new contract low, according to Reuters.
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what happened
Live and feeder cattle futures on the Chicago Mercantile Exchange rose on Wednesday, while lean hog futures dropped sharply, Reuters reported. December live cattle gained 0.95 cent to settle at 231.125 cents per pound. November feeder cattle climbed 2.940 cents to 348.82 cents per pound.
On the Chicago Board of Trade, December corn touched a three-month low before recovering to settle 1-1/4 cents higher at $4.63-1/4 a bushel. Wholesale choice boxed beef fell to $372.59 per hundredweight at midday, according to the USDA.
December lean hogs slipped 1.425 cents to 65.725 cents per pound after touching a contract low of 65.700.
why it matters
Cheaper corn lowers feeding costs for cattle producers, which supports the meat supply chain. Weak demand and low pork prices keep pressure on the hog market. Packer margins widened to $50.15 per head from $34.50 a day earlier, but remained below $85.00 a week ago, per HedgersEdge.
market impact
Livestock and meat processing: weak demand pressures hog prices while cheaper corn eases feeding costs.
tags
instruments
sources
- CME live, feeder cattle futures rally — Reuters, 21 October 2026 at 23:23 UTC
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