Chicago cattle futures fell on Thursday ahead of the USDA’s semi-annual cattle inventory report. Hog futures were mixed.
Most-traded April live cattle contracts settled at 237.275 cents a pound, down 1.450 cents. June live cattle closed at 233.275 cents per pound, down 1.175 cents.
Most-active March feeder cattle futures closed at 365.125 cents a pound, down 0.725 cents. April contracts closed at 363.225 cents per pound, down 1.075 cents.
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Choice boxed beef ended the afternoon at $367.66 per cwt, down $2.08 from Wednesday. Select beef sank by $2.85 to $360.72 per cwt the USDA reported.
The USDA is set to release its semi-annual cattle inventory report on Friday. Analyst Christopher B. Swift wrote that he was not expecting much for further declines in cattle numbers. If anything, he said, he expected a “minor surprise” or a one per cent increase in the cattle herd.
Most-active April lean hog contracts closed at 95.450 cents a pound, up 0.300 cents. February lean hogs lost 0.250 cents to settle at 87.700 cents per pound.
Pork carcass cutout value settled at 93.43 per cwt, down $1.62, the USDA reported.
