Chicago cattle and hog futures regained lost ground on Thursday.
Most-active February live cattle futures closed at 235.275 cents a pound, up 0.750 cents. April live cattle gained 1.050 cents to settle at 236.225 cents per pound.
Most-traded March feeders closed at 357.725 cents a pound, up 2.225 cents. January feeders settled at 362.475 cents per pound, up 2.875 cents.
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Choice boxed beef gained $2.51 to end the afternoon at $356.79 per cwt, the USDA reported. Select beef was valued at $352.06 per cwt, up $2.78.
Most-active February lean hog futures closed up 1.075 cents at 85.875 cents per pound. April lean hogs settled at 91.925 cents a pound, up 1.650 cents.
The USDA reported pork carcass cutout value at $90.79 per cwt, down $1.50.
“As cattle and hog futures markets will remain in the demand offseason from January through March, prices could experience downside pressure,” wrote analyst Andrew Hecht.
“Other factors that may impact meat futures include rising production costs due to inflationary pressures, grain and oilseed prices over the coming months, which are critical animal feed inputs, and U.S. tariffs on worldwide trading partners that produce and consume beef and pork.”
