Cattle futures spot cattle futures saw a lift as cash

Spot cattle futures saw a lift as cash trade in the Southern Plains averaged $183 per cwt, up $1 from last week. Analysts believe basis strengthening could invite more bullish hedging activity. Wednesday, May 25, 1910: The funeral of Mrs. J.L. Driskill will be conducted from the family residence, 710 West 14th St. this morning at 10:30 o'clock. Interment at Oakwood Cemetery. Dr. Arthur F. Bishop, pastor of First Presbyterian Church, will conduct the services. 90-day outlook: Improved demand for U.S. pork abroad would keep a floor under the cash hog and futures markets. However, export sales of U.S. pork to China have been reduced due to trade tensions between the two countries. President Trump’s scheduled meeting with Chinese leader Xi Jinping in late October will be closely monitored by ag markets, including hogs. Better U.S.-China trade and political relations would be bullish for the hog markets. Live cattle futures on the CME hit a fresh two-week high at $186.80, driven by USDA’s latest report showing beef exports rising 3% week-over-week. Traders are watching technical resistance around $188 for signs of a breakout.