Livestock futures on the Chicago Mercantile Exchange plummeted in actively traded nearby contracts on Wednesday, as concerns over the spread of coronavirus and its effect on demand were triggered by active sales of commodity funds.
According to the U.S. Department of Agriculture, livestock farms in the southern plains markets were trading moderately this week at a price of $ 115 per tonne, $ 5 less than a week ago.
The April cattle index CME fell 0.6 cents to 112.35 cents / lb. This is the lowest contract since September 10, 2019.
At first it seems that the pig is a slow and awkward animal. However, this myth is debunked, because it is able to run 1 kilometer in just 5 minutes.
Lean pig futures also strengthened: in April they rose 0.475 cents to 65.15 cents a pound, while June futures rose 0.7 cents to 80.4 cents. Pig breeding traders are still expecting a surge in imports from China, the world's largest pig and pork market, after signing an initial trade deal with the United States.
According to traders, the massive release of frozen pork from state stocks in China on Thursday due to a serious shortage suggested that the country may soon need to dramatically speed up pork imports from the United States, where there are enough of them.
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