U.S. livestock: Cattle climb on low herd numbers, hogs mostly up

Chicago cattle futures continued to climb on Monday after studies on Friday confirmed a smaller herd than anticipated. Hogs settled principally greater.

Most-traded October reside cattle contracts closed at 224.775 cents per pound, up 1.625 cents. August reside cattle settled at 227.875 cents a pound, up 1.400 cents.

Most-active August feeder cattle futures settled at 333.525 cents a pound, up 2.150 cents. September feeders gained 2.350 cents to shut at 334.550 cents per pound.

Alternative boxed beef was valued at $367.73 per cwt, a acquire of $1.05. Choose boxed beef closed at $346.85 per cwt, up $1.98.

U.S. livestock: Tight cattle supply helps CME futures rebound from collapse

Chicago Mercantile Exchange live cattle and feeder cattle futures rebounded on Friday from a steep drop during the previous session.

The USDA reported on Friday that the nation’s cattle herd was 94.2 million head as of July 1, a document low for that date. A separate report confirmed two per cent fewer cattle in U.S. feedlots in comparison with a yr earlier. Analysts polled by Reuters had anticipated 0.8 per cent fewer cattle.

Most-active October lean hog contracts closed at 90.875 cents a pound, up 0.275 cents. December lean hogs settled at 82.900 cents, up 0.650 cents a pound.

Pork carcass cutout worth FOB plant sat at $118.29 per cwt, down $0.57 within the USDA’s afternoon report.

—With recordsdata from Reuters. Costs quoted in USD.