Chicago feeder cattle futures continue to push upward on Tuesday while live cattle and lean hogs ended mixed.
Most active August live cattle closed at 218.200 cents a pound, down 1.050 cents. October live cattle lost 0.225 cents to settle at 215.650 cents a pound.
Most active August feeder cattle closed at 313.150 cents a pound, up 1.500 cents. September feeders settled at 312.750 cents a pound, a gain of 2.050 cents.
Choice boxed beef leapt $4.51 to end at $371.76 per cwt, the USDA said in its afternoon report. Select boxed beef was reported at $359.84 per cwt, up $0.91.
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Recent U.S. trade data shows a continuation of trends toward decreased U.S. beef exports and increased imports, noted Oklahoma State University analyst Derrell S. Peel. Exports in April were down 8.6 per cent year over year and down 4.2 per cent in the first four months of the year. Beef imports in April were up 44.9 per cent year over year, and up 28.4 per cent for the year to date.
The most notable impact of tariffs on the sector was a 67.7 per cent decrease in U.S. beef exports to China in April, Peel said—though this was somewhat offset by increased exports to Hong Kong, which fell under a different tariff rate.
“Trade relationships are shifting rapidly and market volatility is expected going forward,” said Peel.
Most active July lean hog contracts gained 1.000 cents to close at 108.200 cents. August lean hogs lost 0.300 cents to settle at 109.800.
Pork carcass cutout value gained $0.59 to reach $110.88 per cwt in the USDA’s afternoon report.
