Chicago feeder cattle futures set fresh highs on Monday. Lean hog contracts also rose.
Most-active September feeder futures closed at 350.925 cents a pound, up 3.575 cents. October feeders settled at 350.250 cents per pound—a gain of 4.350 cents.
Most-active October live cattle contracts gained 0.525 cents to close at 231.175 cents a pound—just under contract highs. December live cattle settled at 233.275 cents a pound, up 1.100 cents.
The USDA in its afternoon report put choice boxed beef at $404.24 per cwt, up $3.67. Select boxed beef was valued at $377.14 per cwt, up $6.38.
Most-traded October lean hog futures settled at 90.125 cents a pound, up 0.025 cents. December lean hogs closed at 83.450 cents per pound, up 0.425 cents.
Pork carcass cutout value was reported at $116.36 per cwt, down $0.04 the USDA said in its afternoon daily report.
