Chicago cattle contracts continued to rise on Thursday ahead of the USDA’s cattle on feed report, due Friday.
Most active June live cattle futures settled at 205.025 cents, up 1.650 cents a pound. April live cattle closed at 208.475 cents per pound, up 1.650 cents.
Most active May feeder cattle closed at 289.100 cents per pound, up 1.600 cents. August feeder cattle settled at 293.550 cents, up 1.650 cents a pound.
Choice boxed beef closed at $328.06 per cwt, down $1.55, the USDA reported. Select boxed beef gained $0.68 to close at $309.36 per cwt.
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High winds and snow in Kansas and Nebraska on Wednesday led to logistical issues for major meat packers and delayed slaughter operations.
The USDA’s cattle on feed report, to be released Friday, is expected to show February cattle placements down 14 per cent from last year, a panel of analysts told Reuters.
Hogs slid for the third consecutive day. Investors have ongoing concerns about possible retaliation against U.S. agricultural exports due to U.S. tariffs set to take effect in April.
Most active June lean hog contracts closing at 96.250 cents a pound, down 0.250 cents. April lean hogs settled at 85.550 cents a pound, down 0.025 cents.
