U.S. livestock: Cattle futures climb, hogs fall

Chicago cattle futures rose to start out the week whereas hogs fell again.

Most-active August stay cattle contracts closed at 213.875 cents a pound, up 0.575 cents. October stay cattle settled at 210.175 cents per pound, up 0.350 cents.

Most-traded August feeder cattle futures settled at 310.675 cents a pound, up 2.775 cents. September feeders closed at 310.625 cents, up 2.725 cents a pound.

Selection boxed beef was valued at $395.56 per cwt within the USDA’s afternoon nationwide report, a lack of $0.93. Choose boxed beef was priced at $384.10 per cwt, up $1.17.

Most-active August lean hog contracts settled at 107.500 cents per pound, down 2.775 cents. October lean hogs closed at 92.400 cents, down 2.225 cents a pound.

U.S. grains: Soy futures end mixed; corn and wheat sag after USDA reports

Chicago Board of Trade soybean futures ended mixed on Monday, with nearby contracts under pressure after quarterly stocks data from the U.S. Department of Agriculture showed larger-than-expected supplies as of June 1, analysts said.

The USDA reported pork carcass cutout worth at $115.41 per cwt on Monday afternoon, down $2.05.

Pork cutout worth and the CME Lean Hog Index are sitting at their highest ranges in practically three years, wrote analyst Jim Wyckoff.

“That means robust client demand for pork on the meat counter,” he stated.

With beef costs at historic highs and client confidence waning, it’s seemingly customers will probably be extra inclined to substitute pork for pricier beef cuts, he added. Nevertheless, after the July 4 vacation, demand for grilling cuts will start to taper off.