CHICAGO, Aug 18 (Reuters) - Chicago Mercantile Exchange lean
hog futures fell on Thursday, pressured by softening wholesale
pork prices and weak export demand, analysts said.
"We're going to have more supply coming at us, and that's
putting pressure on the wholesale market," said Altin Kalo,
economist at Steiner Consulting Group.
CME August October lean hogs fell 4.750 cents to
93.300 cents per pound, dropping 4.84%.
Wholesale pork prices eased early in the session but
recovered by the end of day, with pork carcasses adding $1.44 to
$119.91 per cwt, the USDA said.
The CME's Lean Hog Index a two-day weighted average
of cash hog prices shaved 44 cents to $120.62 per cwt.
U.S. exporters sold 13,500 tonnes of pork during the week
ended Aug. 11, down 43% from the prior 4-week average, the USDA
"The export numbers that came out this morning were not very
encouraging. Sales to China were almost non-existent, so I think
that added to the downward pressure," said Kalo.
Live cattle futures also eased, pulled lower by softening
cash values in the southern U.S. Plains.
"Even though you have pretty strong prices in parts of the
country, the average price keeps getting dragged lower by whats
happening in the south," said Kalo.
CME October live cattle futures lost 1.100 cents to
144.750 cents per lb., while CME September feeder cattle futures
fell 1.850 cents to 185.275 cents per lb.
Cash cattle prices in the southern U.S. plains traded around
$141 per cwt, discount to the northern plains, which traded
steady at $148 per cwt.
Wholesale beef prices were steady-to-softer, with select
cuts slimming 42 cents to $237.47 per cwt, while choice cuts
firmed 5 cents to $264.39 per cwt.
(Reporting by Christopher Walljasper; Editing by Shailesh