U.S. livestock: Cattle futures spike, hogs mixed

Chicago cattle futures closed sharply up on Monday whereas lean hog futures have been blended.

“Two massive trades have been seen at two completely different ranges within the feeder cattle market, suggesting this will likely have been a brief overlaying rally,” wrote analyst Christopher B. Swift.

Most-active November feeders closed at 360.800 cents a pound, up 5.375 cents. January feeder contracts settled at 355.200 cents per pound, a achieve of 5.475 cents.

U.S. grains: Soybean ease on harvest pressure, competition from Brazil

U.S. soybean futures eased on Monday on active harvesting across the Midwest farm belt and brisk early planting as well as exports in rival supplier Brazil, and as top importer China continues to shun U.S. supplies.

Most-traded December reside cattle futures settled at 236.675 cents a pound, up 2.175 cents. February reside cattle closed at 239.625 cents a pound, up 2.800 cents.

Alternative boxed beef rose by $1.07 per cwt to finish the afternoon at $363.34 per cwt, the USDA reported. Choose beef was up $2.59 at $347.97 per cwt.

Most-active December lean hog futures closed at 87.275 cents a pound, down 0.025 cents. February lean hogs rose by 0.250 cents to settle at 89.550 cents a pound.

The USDA put pork carcass cutout worth at $107.35 cents a pound, down $0.95.