Bloomberg the Company & Products

Bloomberg Anywhere Login

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

Cattle Trades Near 10-Month High on Tight Supplies; Hogs Slide

Don't Miss Out —
Follow us on:

Nov. 12 (Bloomberg) -- Cattle futures held near a 10-month high on signs of tightening U.S. supplies. Hog prices slid.

Meatpackers processed an estimated 607,000 animals in the week through through Nov. 9, a 2.3 percent decline from a week earlier and a 4 percent reduction compared with the same period a year earlier, U.S. Department of Agriculture data show.

“The biggest issue is supply,” Rich Nelson, the chief strategist at Allendale Inc. in McHenry, Illinois, said in a telephone interview. “It is a seasonal drop, and this will be dramatic,” compared with previous years.

Cattle futures for February delivery fell less than 0.1 percent to $1.3435 a pound at 10:05 a.m. on the Chicago Mercantile Exchange, after reaching $1.3475, the highest for a most-active contract since Jan. 15.

Hog futures for December settlement slipped 0.4 percent to 87.675 cents a pound on the CME.

Feeder-cattle futures for January settlement gained 0.2 percent to $1.6445 a pound.

To contact the reporter on this story: Dalton Barker in Chicago at dbarker40@bloomberg.net

To contact the editor responsible for this story: Millie Munshi at mmunshi@bloomberg.net

Please upgrade your Browser

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

Chrome, Firefox, Safari, Opera or Internet Explorer.