CME hogs, cattle rise as Wall Street rallies on Trump win
By Tom Polansek
CHICAGO, Nov 6 (Reuters) -Chicago Mercantile Exchange livestock futures rose on Wednesday as strength from record highs on Wall Street spilled over into agricultural markets after Donald Trump was elected U.S. president, analysts said.
The surge in equities raised hopes that a strong economy could support U.S. meat demand.
"A rising tide lifts all boats," said Ted Seifried, chief market strategist for Zaner Ag Hedge.
In lean hog futures, prices rebounded after falling to the lowest level in more than a week. The market had previously pulled back after soaring to contract highs last week on smaller-than-expected supplies of U.S. hogs, traders said.
CME December lean hog futures LHZ24 recovered to end up 1 cent at 82.125 cents per pound on Wednesday.
The wholesale pork carcass cutout value also rose, led by a $6.20 increase in pork bellies, according to U.S. Department of Agriculture data. It was a turnaround after belly values sank by $6.28 on Tuesday.
Recent rallies in belly prices due to strong demand have helped support hog futures, traders said.
"The main downside price risk for the hog market now is that recent gains are heavily concentrated in bellies alone," Steiner Consulting said in a note.
Traders also eyed the Mexican peso after Trump's victory, as a weakness in the currency can restrict Mexico's demand for U.S. hams. The peso was narrowly weaker after largely recovering from a slump earlier in the day to its lowest level in more than two years.
In beef markets, CME December live cattle LCZ24 ended up 0.626 cent at 185.4 cents per pound, snapping a six-session slump.
CME January feeder cattle futures FCF25 jumped 1.675 cents to close at 244.025 cents per pound and hit the highest level since Oct. 29.
Choice and select cuts of boxed beef weakened, the USDA said.
The agency is slated to report weekly U.S. beef and pork export sales on Thursday.
Reporting by Tom Polansek; editing by Alan Barona
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
