Chicago cattle futures rose while hogs slipped back as the USDA raised its forecast for 2026 pork and beef production.
Most-traded February live cattle futures gained 1.525 cents to close at 235.250 cents per pound. April contracts settled at 236.075 cents a pound, up 1.400 cents.
Most-active March feeder cattle closed at 356.175 cents a pound, up 1.475 cents. April contracts gained 1.400 cents to settle at 354.450 cents a pound.
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Choice boxed beef was valued at $357.11 per cwt on Monday afternoon, up $1.48, the USDA reported. Select beef gained $5.88 to surpass choice beef at $358.05 per cwt.
Most-active February lean hog contracts closed at 84.425 cents a pound, down 0.875 cents. April lean hogs lost 1.025 cents to settle at 90.750 cents per pound.
Pork carcass cutout value settled at $93.10 per cwt, up $0.78.
The USDA raised its forecast for beef production in 2026 to 25,802 million pounds from 25,792 million pounds in December. It said this was based on heavier dressed weights which it said will more than offset reduced fed cattle slaughter in the second half of the year.
Pork production forecasts were also raised to 28,229 million pounds from 27,489 million pounds in December based on higher-than-expected pig crops in the second half of 2025.
The USDA raised its forecast for cattle prices in 2026 based on recent price data and expectations of tighter cattle supplies in the second half of the year. Hog prices were unchanged since the last World Agricultural Supply and Demand Estimates report.
