CHICAGO, Sept 16 (Reuters) - Chicago Mercantile Exchange
lean hog futures climbed on Thursday, as the market recovered
from a decline to its lowest prices since February.
Technical buying helped support prices, while concerns about
waning U.S. pork exports continue to hang over the market,
The U.S. Department of Agriculture reported 2021 export
sales of 25,300 tonnes in the week ended Sept. 9, down 25% from
the previous week and 9% from the prior four-week average.
Weekly sales to China, the world's biggest pork producer and
consumer, were 1,840 tonnes, down from 14,953 tonnes a week
"China was listed as a buyer of both beef and pork, but the
volumes were minimal," said Karl Setzer, commodity risk analyst
Most-active CME December hogs touched their lowest
price since Feb. 19 at 71.275 cents per pound, before ending up
2.200 cents at 74.450 cents per pound.
October lean hog futures ended up 3.200 cents at
85.475 cents per pound after falling on Tuesday to its lowest
price since March 4.
In China, hog prices have tumbled on increased supplies and
over fears about fresh outbreaks of the pig disease African
swine fever. The decline has discouraged Chinese buyers from
buying more expensive U.S. pork, analysts said.
Another case of African swine fever was confirmed in a wild
boar in the Uckermark region in the eastern German state of
Brandenburg, according to the Brandenburg state health
China and other pork buyers blocked imports of German pork
in September 2020 after Germany's first case.
In the U.S. beef market, weekly net export sales of 15,300
tonnes for 2021 were up 23% from the previous week and 24% from
the prior four-week average, according to the USDA.
CME December live cattle closed down 0.875 cent at
128.575 cents per pound. November feeder cattle slumped
0.275 cent to close at 157.300 cents.
(Reporting by Tom Polansek; Editing by Shailesh Kuber)