U.S. livestock: Chicago hogs down on USDA report, cattle slightly up

Chicago lean hog contracts dipped as a U.S. Division of Agriculture report confirmed inventories barely up. Cattle futures had been unchanged to barely up.

Most-active August lean hog contracts closed at 110.250 cents a pound, down 0.975 cents. October lean hogs settled at 94.875 cents a pound, down 0.850 cents.

Pork carcass cutout worth settled at $119.65 per cwt, down $2.16, the USDA reported.

The U.S. stock of all hogs and pigs as of June 1 was 75.1 million head, the USDA mentioned in its quarterly Hogs and Pigs report. This was up barely from a 12 months prior, and up one per cent from March. Market hog stock was 69.2 million head, additionally up barely from final 12 months and up one per cent from the final quarter.

Feed Grains Weekly: Prices to remain in a ‘funk’ for now

Feed prices on the Canadian Prairies have slipped over the last week and are poised to remain flat to the end of the year, said Darcy Haley, vice-president of Ag Value Brokers in Lethbridge.

Most-active August reside cattle closed at 209.200 cents a pound, up 0.225 cents. October reside cattle had been unchanged at 206.350 cents a pound.

Most-traded August feeder cattle settled at 303.300 cents per pound, up one cent. September feeders closed at 303.375 cents, up 0.775 cents a pound.

Selection boxed beef ended the day at $395.05 per cwt, up 11 cents. Choose boxed beef gained $3.45 per cwt to shut at $379.74.