Chicago Mercantile Exchange live cattle futures tumbled 2 percent or more on Monday, with the front-month June contract falling by its 3.000 cents per pound daily limit in a technical selloff, traders said.
Chicago Mercantile Exchange lean hog futures finished lower on Friday, hit by the "roll" by funds into deferred months and uneasiness over North American Free Trade Agreement (NAFTA) talks, said traders.
Chicago Mercantile Exchange lean hogs on Wednesday slid from a one-year top earlier in the session, rattled by fund selling and Canadian government concerns over NAFTA talks with the United States, said traders.
Chicago Mercantile Exchange live cattle nearby contracts on Wednesday were weakened by funds that sold, or "rolled," June positions into back months ahead of similar moves early next week, said traders.
For the first time ever, the government has shut down the economy due to a pandemic. U.S. Sen. Chuck Grassley said the government needs to put some thought into what that means and analyze how relief packages are used.
U.S. livestock futures were mostly higher on Wednesday, with both cattle and hogs recovering from recent lows on bargain buying and positioning ahead of government supply data, traders and analysts said.