CME traders are also anticipating seasonal strength in cash hog and wholesale pork values through mid-February, but those markets are not cooperating very well with bulls in that respect. That is, the CME lean hog index has only inched its way higher lately and remains at a modest discount to the nearby February futures price. It is expected to slip 0.05 cents to 84.59 cents/pound Wednesday. Meanwhile, pork cutout has demonstrated little strength during the first two weeks of the year. A sustained cattle market advance might also go far in boosting the hog and pork complex, but that market has not been acting very well lately either. February hogs rose one tick to 85.25 cents/pound at the Tuesday close, while June futures fell 0.25 cents to 96.60.
Crop markets generally strong on Tuesday
- U.S. readies for more 'extremely tough' trade talks with Japan
- Ag markets ended the week in decidedly mixed fashion
- Vilsack: Farm Bill, budget expand opportunity in rural America
- Crop markets set back from early-Friday highs
- Crop markets surged again Thursday night
- Accelerated Genetics sets Leadership Conference
- “Ag-gag” laws in the news
- Conventional agriculture winning some, losing some in culture war
- Can genomics, OPU and IVF take the industry to the 'next level?'
- Preventing roof collapses from snow on agricultural buildings
- Monsanto opens search for 2014 "Farm Mom of the Year"
- School breakfasts celebrated from coast to coast