US April hog futures end lower – CME

Chicago Mercantile Exchange (CME) live cattle futures marched to a three-week high on Wednesday on expectations for tighter US supplies, Reuters reported, citing analysts. Feeder cattle futures also advanced, while lean hogs softened. Technical buying helped support live cattle, analysts said, after a drop near eight-week lows last week was seen as overdone. The United States will not be wallowing in heavy cattle supplies as usual this summer, after producers have reduced herds due to drought and high feed costs, said Rich Nelson, chief strategist at brokerage Allendale. “We are questioning what the supply will look like these next few months,” Nelson said. “It’ll be around July that supplies change earlier than normal.”