Chicago cattle and hog futures saw strong increases across the board on Monday.
Most active August live cattle contracts closed at 215.550 cents a pound, up 3.100 cents. October futures settled at 212.900 cents, up 2.975 cents a pound.
Most active August feeder cattle closed at 310.225 cents per pound, up 3.800 cents. September feeder contracts settled at 309.575 cents per pound, up 3.975 cents.
Boxed beef also saw strong gains with choice boxed beef valued at $382.11 per cwt in the USDA’s afternoon report—up $4.23. Select boxed beef closed at $367.47 per cwt, up $3.97.
Most active August lean hogs closed at 112.675 cents a pound, up 2.550 cents. July lean hogs settled at 111.800 cents, up 2.325 cents.
Pork carcass cutout value sat at $119.48 per cwt, per the USDA’s afternoon report.
“Speculators in lean hog futures and options are regaining some bullish attitude, as their net long position was increased by 16,592 contracts as of June 10th. That took them to a net long of 118,218 contracts,” wrote analyst Austin Schroeder at midday.
