Live and fed cattle futures on the Chicago Mercantile Exchange continued lower on Friday, as retaliatory trade action by China pressured the United States markets. China announced it will impose a 34 per cent levy on its imports from the U.S. beginning April 10.
The June live cattle contract gave up 6.500 cents at 198.200 cents per pound.
May feeder cattle futures dropped 8.250 cents at 274.875 cents per pound.
Thursday’s federally inspected cattle slaughter was 124,000 head, 13,000 fewer than the previous Thursday.
The USDA reported wholesale boxed beef prices were mixed on Friday afternoon, with choice boxes tacking on eight cents at $338.45 per hundredweight, while select boxes lost 66 cents at $317.18.
Lean hog prices pulled back on Friday. The June contract lost four cents at 91.550 cents per pound. The USDA reported Thursday’s federally inspected hog slaughter was 488,000 head, down 13,000 from the previous Thursday.
