Chicago lean hog futures slid on Thursday as the U.S. Department of Agriculture released its Hogs and Pigs report.
Most active June lean hogs settled at 96.775 cents a pound, down 0.375 cents. July lean hogs closed at 96.775 cents, down 0.550 cents a pound.
Pork carcass cutout value settled at $94.84 per cwt, down $0.81 according to the USDA’s afternoon report.
As of March 1, there were 74.5 million hogs and pigs on U.S. farms, the USDA reported in its quarterly Hogs and Pigs report. That was down “slightly” from March 2024, and one per cent down from December, it said.
Read Also
Feed Grains Weekly: Price likely to keep stepping back
As the harvest in southern Alberta presses on, a broker said that is one of the factors pulling feed prices lower in the region. Darcy Haley, vice-president of Ag Value Brokers in Lethbridge, added that lower cattle numbers in feedlots, plentiful amounts of grass for cattle to graze and a lacklustre export market also weighed on feed prices.
Breeding inventory was down one per cent from a year prior. U.S. hog producers intended to have 2.91 million hogs farrow between March and May, also down slightly from the same time last year.
Cattle futures, meanwhile, saw gains continue.
Most active June live cattle settled at 205.800 cents a pound, up 2.775 cents. August live cattle closed at 201.800 cents per pound, up 2.450 cents.
Most active May feeder cattle futures closed at 287.550 cents a pound, up 1.675 cents. August feeders settled at 290.650 cents, up 1.850 cents a pound.
Choice boxed beef corrected downward on Thursday after two days of gains, settling at $335.72 per cwt, down $2.58. Select boxed beef gained $2.91 per cwt to close at $319.44, the USDA reported.
—Prices reported in U.S. dollars
