Chicago cattle rallied on Monday. Lean hogs also rose.
Most-active April live cattle futures closed at 239.525 cents a pound, up 2.725 cents. June live cattle gained 2.525 cents to settle at 234.250 cents a pound.
Most-traded March feeder cattle contracts closed at 366.350 cents a pound, up 6.075 cents. April feeders gained 5.900 cents to settle at 364.175 cents per pound.
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Choice boxed beef value rose by $2.65 to end the afternoon at $368.21 per cwt, the USDA reported. Select beef was valued at $364.91 per cwt, up $2.97.
The U.S. cattle herd dwindled to its smallest size since 1951, the U.S. Department of Agriculture said on Friday.
The nation had a total of 86.2 million cattle and calves as of January 1, the USDA said in a biannual report, after a persistent drought drove ranchers to slash their herds. That was down 0.4 per cent from a year earlier, when the herd also hit its lowest level since 1951.
April lean hog futures closed at 96.625 cents a pound, up 1.475 cents. February lean hogs gained 0.500 cents to settle at 87.850 cents a pound.
Pork carcass cutout value sat at $95.70 per cwt, up $1.48.
-With files from Reuters
