U.S. livestock: Hog futures sink, cattle mixed

Chicago hog futures fell on Tuesday whereas cattle futures ended the day combined.

Most-active February dwell cattle contracts closed at 226.950 cents a pound, up 0.275 cents. April dwell cattle settled up 0.200 cents at 226.900 cents per pound.

Most-traded January feeder cattle futures settled down 0.150 cents at 335.500 cents per pound. March contracts misplaced 0.275 cents to shut at 330.150 cents.

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Alternative boxed beef ended the afternoon at $361.04 per cwt, up $0.14. The USDA reported choose beef down $0.57 at $348.03 per cwt.

The U.S. cattle herd the smallest in current historical past and demand for beef robust headed into the vacations wrote analyst Jim Wyckoff.

“The U.S. inventory indexes usually are not far beneath their file highs and U.S. customers are going to get an rate of interest reduce from the Federal Reserve this week. These are bullish components that can seemingly propel cattle futures costs nonetheless greater within the coming weeks, or longer,” he mentioned.

Most-active February lean hog contracts settled at 81.875 cents a pound, down 0.525 cents. April lean hogs closed down 0.450 cents at 86.525 cents a pound.

The USDA reported pork carcass cutout worth at $96.44 per cwt on Tuesday afternoon, up $0.93.