U.S. livestock: Cattle futures fall hard, hogs mixed

Feeder and reside cattle futures fell laborious on Friday whereas lean hogs closed on both aspect of unchanged.

Most-traded October reside cattle futures settled at 225.975 cents a pound, down 6.250 cents. December reside cattle closed at 227.925 cents a pound, down 5.700 cents.

Most-active September feeder cattle contracts closed at 340.375 cents per pound, down 9.250 cents. October feeders settled at 339.225 cents, down 9.250 cents a pound.

Selection boxed beef sank $0.10 per cwt to finish at $378.84 per cwt in accordance with the USDA’s afternoon report. Choose boxed beef was valued at $355.09 per cwt, up $1.34.

CFIA rejects beekeeper proposals on U.S. packaged bees

The CFIA was unconvinced that suggested measures could offset the risk of importing bee pests along with bulk bee replacement stock.

“There’s no particular huge information, we simply bought wildly overbought,” Matthew Wiegand, dealer at FuturesOne, stated. “It’s huge quantity in a once-in-a-lifetime market.”

An unconfirmed report of a case of New World screwworm in Oklahoma circulated this morning, reported analyst Hans Schmit with Walsh Buying and selling.

The U.S. closed its border to Mexican cattle imports in July attributable to a case of the flesh-eating parasitic fly.

“Cattle can commerce decrease on headlines or rumors like screwworm issues attributable to preliminary uncertainty,” stated Schmit.

“One consequence is that exports decline, growing quick time period provide. One other potential consequence is that retail demand suffers attributable to patrons selecting different meat than wholesale beef. What’s extra probably is that offer is tightened additional attributable to herd loss and a slower provide chain.”

Most-active October lean hog futures closed at 90.675 cents a pound, down 0.250 cents. December lean hogs settled at 83.775 cents per pound, down 0.025 cents.

Pork carcass cutout worth sat at $117.41 per cwt, up $1.08 in accordance with the USDA’s Nationwide Every day Pork Report FOB Plant report.

—With information from Reuters. Costs reported in USD.