U.S. livestock: Live cattle notch 4-1/2-year high

Lean hogs gain on good demand


By Karl Plume, GFM Network News

via Canadian Cattlemen - November 22, 2021


Chicago | Reuters — Live cattle futures on the Chicago Mercantile Exchange (CME) climbed for a fourth straight session on Monday, with front-month contract hitting a fresh 4-1/2-year high on strong demand.


Lean hog futures also firmed, supported by good demand.


Lighter-than-normal trading volumes aided livestock futures’ advance on Monday, with little selling pressure ahead of this week’s U.S. Thanksgiving holiday allowing markets to hold their gains.


Meat demand remains robust in both domestic and export markets as more consumers are returning to restaurants and resuming travel.


Supply chain disruptions, from understaffed U.S. packing plants to BSE-related export restrictions on Brazilian beef, further supported markets. Mexico has been a strong buyer of U.S. pork and U.S. beef sales to China are surging as global supplies tighten.


“The United States just continues to ship pork and, especially, beef overseas… The demand side is definitely there,” said Karl Setzer, commodity risk analyst with Agrivisor...