Chicago | Reuters — Chicago Mercantile Exchange cattle futures fell Thursday on a wave of follow-through selling after contracts posted their first losses in more than a week on Wednesday.
Hog futures closed firm but remained below recent peaks.
Benchmark CME August live cattle futures settled down 0.95 cent at 172.25 cents/lb. (all figures US$). August feeder cattle finished down 0.45 cent at 238.65 cents/lb.
CME July lean hog futures gained 0.275 cent, to 87.2 cents/lb.
In the wholesale beef market, the U.S. Department of Agriculture (USDA) priced choice cuts on Thursday morning at $327.74/cwt, up $2.55 from Wednesday afternoon. Prices for select cuts gained $2.15, to $303.71/cwt.
Wholesale pork prices gained $2.32, to $87.47/cwt, according to USDA data.
— Mark Weinraub is a Reuters commodities correspondent in Chicago.
