Chicago cattle futures rose, then plummeted to end the day down as the USDA released its Cattle on Feed report.
Most active June live cattle futures settled at 202.775 cents a pound, down 2.250 cents. August live cattle closed at 199.350 cents, down 2.475 cents per pound.
Most active May feeder cattle futures lost 4.000 cents to settled at 285.100 cents per pound. August feeders closed at 288.825 cents per pound, down 4.725 cents.
Choice boxed beef settled at $325.45 per cwt, down $2.61, the USDA reported. Select boxed beef gained $0.26 to close at $309.62.
Read Also
Alberta crop conditions improve: report
Varied precipitation and warm temperatures were generally beneficial for crop development across Alberta during the week ended July 8, according to the latest provincial crop report released July 11.
U.S. placements in feedlots in February totalled 1.55 million head, 18 per cent below 2024 according to the USDA’s Cattle on Feed report released today.
Analysts polled by Reuters predicted placements would be down 14 per cent.
Cattle and calves on feed for the U.S. slaughter market totaled 11.6 million head as of March 1. This was two per cent below March 1, 2024.
Most active June lean hog contracts closed at 97.475 cents a pound, up 1.225 cents. April lean hogs settled at 86.125 cents per pound, up 0.575 cents.
Pork carcass cutout value was reported at $96.86 per cwt in the USDA’s afternoon report, for a gain of $1.00 per cwt.
