As one might expect, the big Monday morning cattle market surge spilled over into the hog pit, with most nearby contracts posting varying gains. A significant portion of that strength may also reflect bullish expectations concerning the short-term hog outlook, since cash prices traditionally rise moderately during late January and early February. The fact that the CME lean hog index remains at a noticeable premium to the nearby February future also seems very supportive. On the other hand, having Monday morning direct market quotes follow the losses posted last Friday with indications of persistent weakness probably limited the Chicago strength. February hogs had gained 0.40 cents to 87.22 cents/pound just before the lunch hour, while June futures had also climbed 0.40 cents to 97.47.
Surging cattle futures overshadowed events in the other pits
- Annual Minnesota Nutrition Conference scheduled
- Canada’s Agropur co-op acquires Davisco milk processing plants
- Grains dipped Tuesday while the other markets climbed
- Cattle, soybeans climb Tuesday morning
- EPA in hot water over proposed CWA rule
- DHM Southeast: Dairy events in Florida, update on Burdette/Stiles
- Video: "Show kids got their white pants on"
- Dairy markets: Milk production report sends markets lower
- Dean spin-off of WhiteWave: Silk beating milk one year later
- Michigan honors Continental Dairy Facilities for exports
- U.S. June milk production up 1.9 percent
- Rhode Island names Wright's Dairy Farm as Outstanding for 2014