Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bloomberg Customers

Cattle Slump to Three-Week Low on Slowing Beef Demand; Hogs Gain

Cattle futures fell to the lowest in almost three weeks on signs of slowing U.S. demand for beef. Hog prices rose, snapping the longest slump in eight months.

Wholesale beef at midday fell 0.2 percent to $2.0408 a pound, the lowest since Oct. 28, U.S. Department of Agriculture data show. The price headed for the third straight decline, the longest slump since Sept. 27. Demand may be ebbing before the Nov. 28 Thanksgiving holiday, when people traditionally eat turkey, according to Northstar Commodity Investment Co.

“Movement has really slowed down on the beef as of late,” Mark Schultz, the chief analyst at Northstar in Minneapolis, said in a telephone interview. “Demand has probably backed up a little bit domestically.”

Cattle futures for December delivery fell 0.3 percent to settle at $1.31675 a pound at 1 p.m. on the Chicago Mercantile Exchange, after touching $1.3155, the lowest for the most-active contract since Oct. 18.

Hog futures for December settlement rose 0.2 percent to 87.55 cents a pound on the CME, halting a seven-session slide that was the longest slump since Feb. 22.

Feeder-cattle futures for January settlement declined 0.3 percent to $1.65125 a pound.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.