U.S. livestock: Chicago cattle, hogs rise

Chicago cattle and hog futures closed increased on Thursday.

Most-active February reside cattle futures settled at 230.950 cents a pound, up 2.245 cents. April contracts closed up 2.300 cents at 230.675 cents per pound.

Most-active January feeder cattle contracts closed at 343.400 cents per pound, up 5.025 cents. March futures settled at 337.675 cents a pound, up 4.850 cents.

U.S. grains: Corn and wheat futures firm on brisk exports, softer dollar

U.S. corn and wheat futures firmed on Thursday, supported by brisk export sales and a softer dollar, which tends to make U.S. grains more competitive globally, analysts said. Soybean futures clung to modest gains.

The USDA reported alternative boxed beef valued at $358.11 per cwt this afternoon, down $1.25 from Wednesday. Choose boxed beef sank by $1.42 to $343.46 per cwt.

Wholesale beef costs have been in retreat this month, with meat instances largely stocked for the year-end holidays.

Meat packers’ revenue margins have fallen again into the purple, with packers dropping $9.45 per head of cattle as of Wednesday, based on Denver-based livestock advertising advisory service HedgersEdge.com. Margins had briefly spiked above $100 per head within the first week of December.

Most-traded February lean hog futures closed at 84.175 per pound, up 1.750 cents. April contracts rose by 1.850 cents to 89.225 cents a pound.

Pork carcass cutout worth was 98.84 per cwt, up $1.57, the USDA reported on Thursday afternoon.

“It seems just like the seasonal break in money hogs and pork is over, and now we will likely be evaluating lighter provides within the weeks forward,” Wealthy Nelson, chief strategist for Allendale, mentioned on Wednesday.

-With recordsdata from Reuters