U.S. livestock: Hogs rebound, cattle hit upward limits

Chicago hog futures rallied on Monday after an extended slide. Cattle futures additionally jumped with all feeder contracts hitting upward limits.

Most-active December lean hog contracts closed at 82.775 cents a pound, up 3.375 cents. February futures settled at 82.825 cents per pound, up 3.475 cents.

Pork carcass cutout worth ended the afternoon at $100.22 per cwt, up $1.24, the USDA reported.

U.S. grains: Soybeans rise on China demand hopes; corn and wheat rebound

Chicago Board of Trade soybean, corn and wheat futures rose on Monday on signs of progress towards the end of a record-long U.S. government shutdown, along with expectations of a revival of U.S. soybean exports to China, analysts said.

“In my view, the information that the federal government shutdown could finish this week offered a reduction to merchants that demand will decide up for pork as we close to the vacation season,” wrote analyst Ben DiCostanzo.

Most-traded December dwell cattle futures settled at 228.550 cents a pound, up 7.200 cents. February contracts gained the 7.250 cent restrict to shut at 227.000 cents per pound.

Most-active January feeder cattle futures closed up the restrict at 9.250 cents at 328.825 cents a pound. March contracts settled at 323.225 cents per pound, additionally up 9.250 cents.

Alternative boxed beef worth rose by $0.92 to finish the afternoon at $377.32 per cwt. Choose beef was valued at $359.70 per cwt, down $1.39.