U.S. livestock: Cattle futures come down from highs

Dwell and cattle futures on the Chicago Mercantile Trade began the week decrease after reaching contract highs over the previous few days. In the meantime, lean hog costs reached their lowest ranges in a month and a half.

As of July 8, managed cash’s internet lengthy place for stay cattle was trimmed by 1,039 contracts at 128,423. Spec merchants added on to the online lengthy place for feeder cattle, rising by 3,607 contracts at 37,493.

The August stay cattle contract dropped US$2.85 per hundredweight to shut at US$219.350, whereas the October contract shed US$2.925/cwt at US$216.775. August feeder cattle misplaced US$5.850/cwt. at US$319.475.

The US Division of Agriculture reported a weekly slaughter of 568,000 head throughout the week ended July 10, 36,573 head lower than the identical week final yr.

The USDA additionally reported declining costs for selection and choose containers this afternoon. Alternative containers had been down US$1.57/cwt at US$377.07, whereas choose containers trimmed US$1.91/cwt at US$364.58.

The August lean hog contract slipped US$1.450/cwt at US$103.225 after falling to US$102.700/cwt, its lowest worth since Could 28.