Chicago cattle futures settled on either side of unchanged, Tuesday, after setting fresh highs on Monday. Lean hog contracts made modest gains.
Most active August live cattle settled at 211.625 cents a pound for a gain of 0.025 cents. June live cattle lost 0.500 cents to close at 216.325 cents a pound.
Most active August feeder contracts closed at 306.000 cents a pound, down 0.375 cents. September feeders lost 0.050 cents to settle at 305.050 cents a pound.
Choice boxed beef gained $1.96 to end the day at $350.10 per cwt, the USDA said in its afternoon report. Select boxed beef lost $0.76 to close at $334.47 per cwt.
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For the week ending July 12, Western Canadian yearling markets traded steady to $5 higher compared to seven days earlier. Calves weighing 550-800 pounds were quoted $5 lower to as much as $10 higher.
The USDA is forecasting beef production and exports to fall in 2026 as tight cattle supplies continue, according to the agency’s World Agricultural Supply and Demand Estimates (WASDE), which was released on Monday. As a result, cattle prices are projected to surpass 2025 levels.
The agency also raised 2025 cattle price forecasts due to recent strength and expectations that cattle supplies will tighten in the second half of the year.
Most active June lean hog futures gained 1.200 cents to close at 99.500 cents. July lean hogs settled at 103.200 cents a pound, up 0.725 cents.
The USDA reported pork carcass cutout value at $97.02 per cwt, up $0.51.
The USDA trimmed projections for pork production in 2025 as slaughter is expected to slow in the second half of the year, while pork export estimates were raised. In 2026, pork production is expected to rise on increased hog supplies.
