U.S. livestock: Cattle climb higher out of long weekend

Cattle futures on the Chicago Mercantile Trade have been stronger on Monday, hitting recent highs within the feeder market after the Independence Day weekend whereas reside cattle lagged to the upside.

August feeder cattle futures have been up by 4.225 cents per pound at 313.725 cents per pound.

The August reside cattle contract gained 1.850 cents per pound at 215.900 cents on the shut.

Weak spot in corn futures contributed to the energy within the feeder market, because the cheaper grain underpins feedlot margins.

The U.S. Division of Agriculture reported wholesale boxed beef costs have been combined on Monday, with selection containers up $1.23 at $390.98 per hundredweight and choose containers down $0.91 at $377.53.

Lean hog costs have been up one cent per pound within the August contract at 107.100 cents. Packer margins have been stated to be turning unprofitable, which may strain values long term.