U.S. livestock: Cattle market ticks up after Tuesday’s hit

Chicago cattle futures eked out beneficial properties on Wednesday after yesterday’s sharp drop.

Most-active August reside cattle closed at 211.675 cents a pound, up 1.025 cents. October reside cattle contracts settled at 209.225 cents per pound for a acquire of 0.675 cents.

Most-traded August feeder cattle futures settled at 304.175 cents, up 0.825 cents a pound. September feeders closed at 303.800 cents a pound, up 0.900 cents.

Alternative boxed beef gained $2.36 to finish the day at $388.87 per cwt. Choose boxed beef was valued at $372.74 per cwt, up $0.20, the USDA reported.

The Cattle Vary predicted U.S. cattle on feed to be 98.8 per cent of what they had been a 12 months prior within the USDA’s cattle on feed report, to be launched Friday.

It forecasted cattle placements to be 94.2 per cent of 1 12 months prior, and marketings to be 90.1 per cent in comparison with one 12 months in the past.

Most-active August lean hogs gained 0.200 cents to shut at 112.000 cents a pound. July lean hogs settled at 112.175 cents per pound, up 0.525 cents. October lean hogs misplaced 0.025 cents to shut at 95.150 cents per pound.

Pork carcass cutout worth settled at $118.28 per cwt, down $1.61.