Chicago Mercantile Exchange cattle futures hit fresh highs on Thursday after Wednesday’s technical reversal.
Markets closed early to mark a national day of mourning for former President Jimmy Carter.
As markets closed, most active February live cattle futures were trading at 198.000 cents per pound, up 4.300 cents from yesterday. March live cattle were trading at 268.725 cents a pound, up 3.750 cents.
At close, most active March feeder cattle futures were trading at 268.725 cents per pound, up 3.750 cents.
This afternoon, the U.S. Department of Agriculture put choice boxed beef at $330.78 per cwt, up $2.17 from yesterday. Select boxed beef was priced at $308.35 per cwt, up $1.46.
Lean hog futures also made gains. Most active February futures were sitting at 82.150 cents per pound at close. That’s up 2.675 cents over yesterday. April lean hog futures traded at 87.775 cents per pound, up 2.700 cents.
The USDA reported pork cutout values at $90.48 per cwt, down $0.05 from Wednesday.
—All prices in USD
