Surging cattle futures overshadowed events in the other pits
As one might expect, the big Monday morning cattle market surge spilled over into the hog pit, with most nearby contracts posting varying gains. A significant portion of that strength may also reflect bullish expectations concerning the short-term hog outlook, since cash prices traditionally rise moderately during late January and early February. The fact that the CME lean hog index remains at a noticeable premium to the nearby February future also seems very supportive. On the other hand, having Monday morning direct market quotes follow the losses posted last Friday with indications of persistent weakness probably limited the Chicago strength. February hogs had gained 0.40 cents to 87.22 cents/pound just before the lunch hour, while June futures had also climbed 0.40 cents to 97.47.
Self-contained hydraulic system with power cables (hydraulic). Tandem Henschen axles (hydraulic). Hydraulic fenders. Manual or hydraulic tilt. 6,500-gallon tank.
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