Chicago cattle futures continue to rise on Wednesday while nearby lean hog contracts edged downward.
Most active June live cattle closed at 208.100 cents per pound, a gain of 1.825 cents. August live cattle futures settled at 203.875 cents per pound, a gain of 1.425 cents.
Most active August feeder cattle futures settled at 292.175 cents per pound for a gain of 0.925 cents. May feeders closed at 288.350 cents per pound, up 1.425.
Choice boxed beef made slight gains to close at $331.97 per cwt, up $0.24, the USDA reported. Select boxed beef lost $3.13 per cwt to settle at $314.52.
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Most active June lean hog contracts settled at 100.150 cents per pound, a loss of 0.125 cents. May lean hogs lost 0.350 cents to close at 91.875 cents per pound. July contracts eked out a gain of 0.025 cents to close at 100.300 cents per pound.
Pork carcass cutout value sat at $94.08 per cwt in the USDA’s afternoon report—a loss of $1.70.
U.S. stocks and soybean futures rallied Wednesday morning on signs that Trump administration may be open to de-escalating its trade war with China.
“Neither side believes that these are sustainable levels. As I said yesterday, this is the equivalent of an embargo and a break between the two countries in trade does not suit anyone’s interest,” Treasury Secretary Scott Bessent told reporters.
—Prices reported in U.S. dollars
