Chicago live and feeder cattle futures fell back on Thursday ahead of Friday’s cattle on feed report. Hogs were mixed.
“The numbers are not expected to look good,” wrote analyst Bill Allen.
With markets just below record highs, “anything is possible, and tomorrow could show how the markets will move for the rest of the year,” he added.
Most-traded October live cattle contracts closed at 222.150 cents a pound, down 1.350 cents. August live cattle settled at 225.800 cents per pound, down 1.225 cents.
Most-active August feeder cattle futures closed at 328.900 cents, down 2.625 cents a pound. September contracts settled at 329.650 cents a pound, down 2.250 cents.
Choice boxed beef gained $0.57 to sit at $368.09 per cwt in the USDA’s afternoon report. Select boxed beef was valued at $347.00 per cwt, up $1.61.
Most-traded October lean hog contracts closed at 91.100 cents a pound, up 0.200 cents. August lean hogs lost 0.275 cents to settle at 108.200 cents a pound.
Pork carcass cutout value sat at $117.54 per cwt, up $0.30.
