Hogs rise, cattle stable

Rising to a two-week high, hog futures climbed on signs that demand for ham in the U.S. increased and supplies dwindled. Cattle, on the other hand, remained relatively steady.Rising to a two-week high, hog futures climbed on signs that demand for ham in the U.S. increased and supplies dwindled. Cattle, on the other hand, remained relatively steady.

On the Chicago Mercantile Exchange, hog futures for December settlement rose 0.775 cent – 1.1 percent – to 69.025 cents a pound this morning. On November 9, hog carcasses averaged 206.7 pounds (93.7 kilograms) – down 1.5 percent from the end of October, when weights were the heaviest in eight years. Heavier animals contribute more meat and thus bring more value. Cattle saw little activity, with cattle futures for February delivery hovering at $1.0295 a pound.On the Chicago Mercantile Exchange, hog futures for December settlement rose 0.775 cent – 1.1 percent – to 69.025 cents a pound this morning. On November 9, hog carcasses averaged 206.7 pounds (93.7 kilograms) – down 1.5 percent from the end of October, when weights were the heaviest in eight years. Heavier animals contribute more meat and thus bring more value. Cattle saw little activity, with cattle futures for February delivery hovering at $1.0295 a pound.

With the holidays arriving, it is no surprise that the U.S. market is experiencing a spike in demand. The president of U.S. Commodities Inc., Don Roose, told Bloomberg "we'll start to see some seasonal strength in the ham market for the holiday season." He further asserted that the hog "weights are starting to taper off," a factor in the price hike. Roose conceded that the "boxed beef is disappointing," keeping prices steady.With the holidays arriving, it is no surprise that the U.S. market is experiencing a spike in demand. The president of U.S. Commodities Inc., Don Roose, told Bloomberg "we'll start to see some seasonal strength in the ham market for the holiday season." He further asserted that the hog "weights are starting to taper off," a factor in the price hike. Roose conceded that the "boxed beef is disappointing," keeping prices steady.

Hog and cattle have both gained in value this year – hog growth is at 23 percent and cattle at 20 percent.
 Hog and cattle have both gained in value this year – hog growth is at 23 percent and cattle at 20 percent.