U.S. livestock: Cattle mixed as report shows inventory down

Chicago cattle futures had been combined on the eve of the Memorial Day weekend as this month’s cattle on feed report confirmed a decline in stock. Hogs fell.

Most energetic August reside cattle contracts closed at 210.450 cents a pound, down 0.050 cents. June reside cattle settled at 215.800 cents, up 0.175 cents per pound.

Most energetic feeder cattle futures closed at 300.375 cents a pound, up 0.600 cents. September feeders gained 0.725 cents to settle at 299.350 cents a pound.

Alternative boxed beef gained $0.58 per cwt to finish the day at $361.55, the USDA stated in its afternoon report. Choose boxed beef closed at $351.32, up $2.37 per cwt.

Complete U.S. cattle and calves on feed totaled 11.4 million head on Could 1, two per cent under Could 1, 2024. Analysts polled by Reuters had predicted a 3.2 per cent decline.

Placements in feedlots in April had been down three per cent from a 12 months in the past. Marketings of fed cattle had been additionally down three per cent.

Most energetic July lean hog futures settled at 101.550 cents a pound, down 0.500 cents. August lean hogs closed at 101.275 cents per pound, down 0.725 cents.

Pork carcass cutout worth sat at $101.46 per cwt within the USDA’s afternoon report. That’s a achieve of $1.19 per cwt.

—Costs reported in USD

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