Cattle, Lean hog futures prices august 22 2011

Cattle, Lean hog futures prices august 22 2011 : Cattle futures are trading mixed at midsession. Broad based strength in commodity markets helped push cattle futures higher this morning. Strength in the stock market helped rally commodity markets. But front end futures turned lower on the bearish Cattle on Feed report released on Friday. The report showed July placements record high at up 22% from last year and on feed numbers up 8%. October is 5 cents lower at $115.40 and December is 23 cents lower at $117.10.

Lean hog futures are higher at midday. Strength in the stock market and a broad based rally in commodity markets are supporting the market. Pork cutouts were up 73 cents on Friday and cash prices were a little higher. Cash trade is steady to $1 lower this morning, but futures have already built in a big discount to the current cash market. October is 43 cents higher at $88.80 and December is 8 cents higher at $84.95.

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