U.S. livestock: Chicago hogs, cattle mixed

Chicago cattle and lean hog futures ended blended on Wednesday whilst shopper demand remained robust forward of Memorial Day.

Most lively August stay cattle contracts closed at 207.850 cents, down 0.075 cents per pound. June stay cattle gained 0.200 cents to settle at 213.175 cents a pound.

Most lively August feeder cattle settled at 297.500 cents a pound, up 0.025 cents. September feeders closed at 296.200 cents, down 0.125 cents per pound.

Alternative boxed beef leapt to $360.44 per cwt, a acquire of $5.63. Choose boxed beef gained $1.01 per cwt to settle at $345.12, in keeping with the USDA’s afternoon report.

U.S. grains: Wheat extends rally on crop rating drop, Chinese heat wave concerns

Chicago Board of Trade wheat futures surged to a two-week high on Tuesday, as a weaker dollar and an unexpected decline in U.S. crop ratings encouraged more short-covering after prices hit a five-year low last week.

Merchants mentioned they’re anticipating that boxed beef costs might quickly present indicators of easing, as grocery and restaurant demand for higher-priced beef cuts sluggish forward of the Memorial Day vacation weekend, and consumers flip their consideration to stocking up for Father’s Day grilling.

Most lively July lean hog contracts closed at 103.550 cents a pound, down 0.025 cents. June lean hogs gained 0.775 cents to settle at 100.025 cents a pound.

Pork carcass cutout worth misplaced $0.57 per cwt to settle at $100.52 per cwt.

—With recordsdata from Reuters. Values reported in U.S. {dollars}.