U.S. livestock: Cattle futures jump back up, hogs fall

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Chicago cattle futures jumped back up after Tuesday’s losses while hogs continued to slide.

Most-active April live cattle contracts gained 3.550 cents to close at 240.975 cents per pound. June live cattle settled at 236.575 cents a pound, up 2.775 cents.

Most-traded March feeder cattle closed at 367.450 cents per pound, up 2.675 cents. April contracts gained 3.325 cents to settle at 364.600 cents a pound.

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Choice boxed beef slid by $1.63 to $365.92 per cwt, the USDA said in its afternoon report. Select beef was valued at $362.58 per cwt, down $0.32.

Historically tight U.S. cattle supplies have elevated cash cattle prices in recent weeks, while meat packers’ profit margins have fallen to deeply negative levels.

Packers were losing nearly $270 per head of cattle as of Tuesday, according to Denver-based livestock marketing advisory service HedgersEdge.com LLC.

Most-active April lean hogs settled at 93.850 cents a pound, down 1.650 cents. June contracts closed at 107.475 cents a pound, down 1.425 cents.

Pork carcass cutout value settled at $93.77 per cwt, down $1.69.

-With files from Reuters

About The Author

Geralyn Wichers

Geralyn Wichers

Digital editor, news and national affairs

Geralyn graduated from Red River College's Creative Communications program in 2019 and launched directly into agricultural journalism with the Manitoba Co-operator. Her enterprising, colourful reporting has earned awards such as the Dick Beamish award for current affairs feature writing and a Canadian Online Publishing Award, and in 2023 she represented Canada in the International Federation of Agricultural Journalists' Alltech Young Leaders Program. Geralyn is a co-host of the Armchair Anabaptist podcast, cat lover, and thrift store connoisseur.

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