Chicago cattle futures continued to inch upward on Monday. Hogs also rose in anticipation of Tuesday’s Hogs and Pigs report.
Most-active February live cattle futures closed at 231.425 cents a pound, up 0.625 cents. April live cattle settled at 231.075 cents a pound, up 1.075 cents.
Most-active March feeder cattle closed at 340.500 cents a pound, up 1.100 cents. January contracts settled at 346.500 cents a pound, up 0.900 cents.
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The USDA reported choice boxed beef valued at $362.87 per cwt on Monday afternoon, up $1.24. Select beef rose by $4.67 to $350.69 per cwt.
The Dec. 19 Cattle on Feed report numbered cattle and calves on feed at 11.7 million head as of Dec. 1, down two per cent from the same month in 2024. November feedlot placements were 11 per cent below 2024.
Most-traded February lean hog futures closed at 85.350 cents a pound, up 0.850 cents. April lean hogs gained 0.750 cents to settle at 89.875 cents.
Pork carcass cutout value was $98.41 per cwt on Tuesday afternoon, down $1.35.
Estimates for the USDA’s Hogs and Pigs report show hog inventory down one per cent and breeding inventory down 1.2 per cent wrote analyst Ben DiConstanzo of Walsh Trading. Market hogs are expected to be down 0.9 per cent, pigs per litter up 0.8 per cent and the September-November pig crop down 1.3 per cent from 2024.
