Chicago Mercantile Exchange live cattle and feeder cattle futures took a turn lower in resumed trading Wednesday while near-month hogs turned higher.
Most-active August live cattle came back off the U.S. Independence Day break down for a second day off Friday’s three-week high, closing Wednesday at 174.95 cents/lb., down 1.875 cents from Monday (all figures US$). October was down 1.45 cents from Monday at 177.875.
CME feeder cattle, which had benefited from lower corn prices off a bearish U.S. Department of Agriculture acreage estimate, turned lower Wednesday, with most-active August down 3.2 cents from Monday at 244.7 cents and September down 3.225 cents at 248.15.
Most-active August lean hogs continued higher for a seventh trading day, up 3.125 cents at 97.45, while lightly-traded front-month July was up 3.45 cents from Monday at 101.275.
Further out, October and December hogs were up for a second day, while contracts in the 2024 trading year continued on a downslope. — Glacier FarmMedia Network
