Chicago live and feeder cattle futures slipped from record highs on Wednesday. Most lean hog contracts also lost ground.
Most active June live cattle closed at 212.525 cents per pound, down 1.150 cents. August live cattle settled at 208.375 cents a pound, a loss of 1.000 cents.
Most active August feeder cattle futures closed at 298.600 cents a pound, down 0.600 cents. May feeders settled at 294.450 cents per pound, down 1.250 cents.
Choice boxed beef, meanwhile, gained $1.48 per cwt to end the day at $346.15, the USDA reported. Select boxed beef closed at $334.00 per cwt, up $1.03.
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Most active June lean hog futures closed at 97.325 cents a pound—a loss of 0.250 cents. July lean hogs gained 0.075 cents to settle at 99.475 cents per pound.
Pork carcass cutout value edged down $0.16 to end the day at $95.54 per cwt the USDA said.
Signs of a thaw in China-U.S. relations lent support to some agricultural markets, traders said.
A planned meeting between senior U.S. and Chinese officials boosted hopes for easing tensions earlier in the day but sentiment soured after U.S. President Donald Trump said he would not preemptively lower tariffs on China.
—With files from Reuters. Prices reported in U.S. dollars.
