Live and fed cattle futures on the Chicago Mercantile Exchange posted small gains on Friday but ended the month off the contract highs hit earlier in the week.
The U.S. Department of Agriculture’s annual cattle inventory report was released after the close, with 86.7 million head of cattle and calves on U.S. farms as of Jan. 1, 2025. That was down one per cent on the year and the lowest level for the start of the year since 1951. Of the total, cows and heifers that have calved came in at 37.2 million head were down from 37.4 million the previous year.
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Cattle futures on the Chicago Mercantile Exchange were stronger on Friday, hitting fresh highs to end the week.
The April live cattle contract was up by 0.800 cents per pound at 202.300 cents.
March feeder cattle futures were up by 2.525 cents per pound at 275.725 cents per pound.
The U.S. Department of Agriculture reported wholesale boxed beef prices were firm on the day, with choice boxes up $0.20 at $327.68 per hundredweight and select boxes up $1.17 at $317.07.
Lean hog prices were weaker, with the April contract down 1.575 cents per pound at 90.350 cents.
Uncertainty over impending U.S. tariffs on Canadian and Mexican imports kept some caution in the livestock markets, as both countries are major trading partners with the U.S.
