U.S. livestock: Cattle futures jump back up, hogs fall

Chicago cattle futures jumped again up after Tuesday’s losses whereas hogs continued to slip.

Most-active April stay cattle contracts gained 3.550 cents to shut at 240.975 cents per pound. June stay cattle settled at 236.575 cents a pound, up 2.775 cents.

Most-traded March feeder cattle closed at 367.450 cents per pound, up 2.675 cents. April contracts gained 3.325 cents to settle at 364.600 cents a pound.

Alternative boxed beef slid by $1.63 to $365.92 per cwt, the USDA mentioned in its afternoon report. Choose beef was valued at $362.58 per cwt, down $0.32.

Traditionally tight U.S. cattle provides have elevated money cattle costs in current weeks, whereas meat packers’ revenue margins have fallen to deeply unfavorable ranges.

Packers had been shedding almost $270 per head of cattle as of Tuesday, based on Denver-based livestock advertising and marketing advisory service HedgersEdge.com LLC.

Most-active April lean hogs settled at 93.850 cents a pound, down 1.650 cents. June contracts closed at 107.475 cents a pound, down 1.425 cents.

Pork carcass cutout worth settled at $93.77 per cwt, down $1.69.

-With information from Reuters

---

You’ll additionally obtain trade and coverage data, multi functional handy e-mail delivered proper to your inbox!

One e-mail delivered 6 days per week for ranchers, feedlots, packers and livestock gross sales operators.