U.S. livestock: Cattle drop on weak cash markets, rising supply

Chicago | Reuters — U.S. cattle futures fell on Monday, weighed down by weakness in the cash market, traders said.

Weekly slaughter estimates showed supplies up from a year ago and last week, adding pressure to the market.

Hog futures were firm, supported by rising values for the pork cutout.

Chicago Mercantile Exchange August live cattle futures ended 1.05 cents lower at 107.2 cents/lb. (all figures US$). The most active September live cattle contract was down 1.1 cents at 108.15 cents.

CME August feeder cattle futures dropped 1.25 cents to 148.65 cents/lb. and September feeders were 1.075 cents lower at 148.45 cents.

Most active CME October hogs settled up 0.475 cent at 51.65 cents/lb. while the front-month August hog contract gained 0.725 cent to close at 55.525 cents.

— Michael Hirtzer reports on commodity markets for Reuters from Chicago.

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