Apr 24, 2014
Sign UpLogin

Cattle Drop to Four-Week Low as Beef Demand Ebbs; Hogs Advance

September 3, 2013
cattle numbers take hit
  

Cattle futures fell to the lowest in almost four weeks on signs of dwindling demand for beef in the U.S. Hog prices rose.

Meatpackers processed 124,000 cattle today, down 3.9 percent from a year earlier, U.S. Department of Agriculture data show. The Labor Day holiday yesterday is the third most-popular day for outdoor barbecues, according to an industry group.

"We’re coming to the end of grilling season," Dick Quiter, an account executive at McFarland Commodities LLC in Chicago, said in a telephone interview. "Demand potentially could taper off."

Cattle futures for October delivery fell 0.5 percent to settle at $1.262 a pound at 1 p.m. on the Chicago Mercantile Exchange. Earlier, the price touched $1.261, the lowest for the most-active contract since Aug. 7.

Feeder-cattle futures for October settlement rose 0.1 percent to $1.591 a pound.

Hog futures for October settlement advanced 0.4 percent to 88 cents a pound.

 

 

See Comments

RELATED TOPICS: Beef, Hogs, Marketing, Pork, Cattle

 
Log In or Sign Up to comment

COMMENTS

No comments have been posted



Name:

Comments:

Hot Links & Cool Tools

    •  
    •  
    •  
    •  
    •  
    •  

facebook twitter youtube View More>>
 
 
 
 
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by AmericanEagle.com|Site Map|Privacy Policy|Terms & Conditions