U.S. livestock: Live cattle slip; feeders, hogs make small gains

Chicago stay cattle futures slipped on Monday whereas feeder and lean hog contracts eked out beneficial properties.

Most-traded August stay cattle contracts settled at 209.375 cents a pound, down 0.450 cents. October stay cattle closed at 207.100 cents a pound, down 0.250 cents.

Most-active August feeder cattle futures closed at 302.800 cents per pound, up 0.350 cents. September feeders settled at 302.625 cents per pound, up 0.400 cents.

Selection boxed beef was valued at $390.22 per cwt, down $0.28 the USDA reported. Choose boxed beef closed at $383.10 per cwt, up $6.15.

Money cattle and beef market fundamentals weakened considerably towards the top of final week with money cattle and wholesale beef costs weaker or combined on Friday afternoon, wrote analyst Jim Wyckoff. Friday afternoon’s cattle on feed report confirmed U.S. cattle on feed down one per cent, which continues to be bullish for the long run, he added.

“Threat urge for food within the basic market is prone to play a major function in cattle futures buying and selling within the close to time period,” Wyckoff stated. “A serious escalation within the Israel-Iran conflict that has now drawn the U.S. into navy motion over the weekend is probably going at the least initially stock-market bearish, and if danger aversion stays elevated for an extended interval, it could result in eroding client confidence and probably much less client demand for beef on the meat counter.”

Over the weekend, merchants had been additionally intently monitoring scorching warmth on the U.S. plains, he added.

Most-active August lean hog contracts closed at 113.050 cents a pound, up 0.600 cents. October lean hogs settled at 96.875 cents a pound, up 0.850 cents.

Pork carcass cutout worth ended the day at $122.78 per cwt, up $0.64.

---

You’ll additionally obtain trade and coverage data, multi functional handy e-mail delivered proper to your inbox!

One e-mail delivered 6 days per week for ranchers, feedlots, packers and livestock gross sales operators.