Commodities : Tuesday, Dec. 3, 1985 : Livestock, Meat Prices Drop

Livestock and meat prices were lower on the Chicago Mercantile Exchange as the weather in the Midwest turned less severe, making it easier for producers to market their animals.

Analysts said the severe storm earlier in the week discouraged movement of animals from producers to the market, but conditions began easing Tuesday.

In addition, a second storm that was expected to move into the Midwest from the Pacific Coast and further disrupt livestock markets appeared to be less severe than originally thought, said Tom Morgan, a livestock analyst in Chicago with Heinold Commodities. Cash prices for live cattle were steady, however, and supplies on feedlots remain tight, Morgan said.

The better weather also pressured prices of live hogs, as sales on country markets increased, Morgan said.

He noted, though, that wholesale loin and ham prices were higher, and that helped hog futures recover before the close.

Pork belly prices were under pressure from excess supply held in storage freezers, Morgan said.

Grain and soybean futures prices were mostly higher on the Chicago Board of Trade.