Sept. 12 (Bloomberg) -- Cattle futures rose for the first time this week on signs of increasing export demand for U.S. beef. Hog prices climbed.
Export sales of beef rose 5 percent to 18,857 metric tons (41.6 million pounds) in the week ended Sept. 5, up 5 percent from the previous week and 17 percent above than the four-week average, U.S. Department of Agriculture data showed today.
“Our export numbers may help us out a bit,” Lane Broadbent, a vice president at KIS Futures Inc. in Oklahoma City, said in a telephone interview.
Cattle futures for December delivery rose less than 0.1 percent to settle at $1.28625 a pound at 1 p.m. on the Chicago Mercantile Exchange. The contract is down 1.4 percent this month.
Feeder-cattle futures for October settlement advanced 0.2 percent to $1.586 a pound.
Hog futures for December settlement gained less than 0.1 percent to close at 87.275 cents a pound.
--Editors: Steve Stroth, Patrick McKiernan