Chicago cattle made modest gains on Tuesday while lean hogs ended mixed to start a shortened trading week.
Most-active April live cattle closed at 234.575 cents a pound, up 0.600 cents. February live cattle settled at 232.375 cents per pound, up 0.225 cents.
Most-traded March feeder cattle contracts gained 1.225 cents to close at 357.675 cents a pound. April feeders settled at 356.450 cents a pound, up 1.550 cents.
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Choice boxed beef was valued at $364.76 per cwt, up $0.43. Select beef ended the afternoon at $359.84 per cwt, down $0.49.
Cattle futures recouped some of Friday’s losses.
“Cattle futures traders on Friday were spooked by reports of an additional case of New World Screwworm (NWS) in Mexico — seemingly worried about the northward movement of NWS and its potential impact on consumer demand for beef,” wrote analyst Jim Wyckoff.
Texas’s agriculture commissioner Sid Miller warned livestock producers that they should be checking livestock every day as one of the confirmed cases was 215 miles (346 km) from the U.S. border.
Most-active April lean hog contracts closed at 95.175 cents a pound, down 0.025 cents. February contracts lost 0.425 cents to settle at 87.850 cents. May and June futures made small gains.
The USDA reported pork carcass cutout value at $93.47 per cwt, down $0.73.
