By Mark Weinraub
CHICAGO, April 14 (Reuters) – CME Group cattle futures fell on Wednesday on issues about rising feed prices as soybean, wheat and corn futures soared, merchants mentioned.
Fund promoting additionally weighed on the cattle market.
Probably the most-active June dwell cattle futures contract LCM1 has closed decrease for 5 days in a row after setting a contemporary excessive through the session on April 8.
Hog futures firmed on technical promoting and good export prospects. The benchmark June lean hogs contract LHM1 rose 1.5 cents to 107.675 cents per lb. The contract rose above its 10-day transferring common.
The U.S. Division of Agriculture reported the pork carcass cutout worth on Tuesday afternoon at $110.09, down $2.40 from Tuesday.
CME June dwell cattle LCM1 dropped 0.725 cent to 120.2 cents per pound, falling under its 40-day and 50-day transferring averages and touching its lowest in three weeks through the session.
Might feeder cattle futures FCK1 fell 1.625 cents to 145.7 cents per pound, hitting their lowest since March 23. The contract discovered technical help at its 100-day transferring common.
(Reporting by Mark Weinraub; modifying by Jonathan Oatis)
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