U.S. Cattle Futures Turn Lower After Modest Gains; Hogs Mixed
September 04 2015 - 9:27AM
Dow Jones News
By Kelsey Gee
CHICAGO--U.S. cattle futures are narrowly lower Friday,
pressured by profit-taking after recovering modest gains from this
week's sharp drop to the lowest levels in over a year.
Wholesale-beef prices have edged narrowly lower in the past
week, a potential sign of weaker end-user demand, which contributed
to a steep drop in cash prices to between $1.41 and $1.47 a pound.
After a temporary halt in the recent selloff, futures have resumed
a downward slump Friday.
October cattle futures recently shed 0.55 cent, or 0.4%, to
$1.4105 a pound at the Chicago Mercantile Exchange. Feeder-cattle
futures for September recently declined 0.675 cent to $2.01875 a
pound.
The hog market, meanwhile, is little changed. October hog
futures were recently flat with Thursday's closing price at 69.45
cents a pound. December futures are down 0.05 cent to 63.975 cents
a pound.
Write to Kelsey Gee at kelsey.gee@wsj.com
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(END) Dow Jones Newswires
September 04, 2015 10:12 ET (14:12 GMT)
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