U.S. livestock: Cattle continue slump, hogs rise

Chicago cattle futures slid for the second consecutive day on Wednesday whereas hog futures continued to climb.

Most lively August dwell cattle contracts settled at 208.175 cents a pound, down 1.125 cents. June dwell cattle closed at 213.925 cents a pound, down 1.200 cents.

Most lively August feeder cattle futures closed at 295.625 cents a pound for a lack of 2.525 cents whereas September feeders misplaced 2.775 cents to settle at 294.475 cent per pound.

Alternative boxed beef jumped by $3.57 to finish the day at $365.42 per cwt, the USDA reported. Choose boxed beef settled at $351.74 per cwt, up $0.91.

U.S. grains: CBOT soybeans, corn fall on quick planting pace

Chicago soybean futures dropped on Wednesday as the U.S. Department of Agriculture’s data showed rapid planting progress, and demand was slow, according to analysts.

Most lively July lean hogs closed at 103.300 cents a pound, up 1.150 cents. August lean hog contracts closed at 103.525 cents per pound, up 1.350 cents.

Pork carcass cutout worth at at $101.08 per cwt, down $1.24, the USDA stated in its afternoon report.

A mission representing the USDA will journey to Mexico within the coming days, Mexico’s agriculture ministry stated on Tuesday, and will then elevate its suspension of Mexican cattle imports.

The U.S. can even present $21 million to renovate a plant in southern Mexico to spice up manufacturing of sterile screwworm flies, the USDA stated, which is able to scale back the mating inhabitants of the wild flies.

The USDA cautioned that the present import restrictions stay in place and that it’ll re-evaluate them each 30 days.

—With recordsdata from Reuters. Costs reported in U.S. {dollars}.