Chicago | Reuters — Chicago Mercantile Exchange cattle futures fell on Thursday, with weakness in the cash markets pressuring futures, traders said.
Some follow-through selling in cattle also was noted after sharp declines on Wednesday,
Pork futures were mixed, with the most-active April contract falling after a government report showed a sharp drop in exports while deferred offerings rose.
The U.S. Agriculture Department said on Thursday that export sales of beef totaled 27,500 tonnes in the week ended March 3, up from 23,800 a week earlier.
Pork export sales fell to 25,400 tonnes from 42,200.
CME April live cattle dropped 1.675 cents to 135.9 cents/lb. (all figures US$). April feeder cattle fell 3.9 cents to 156.25 cents/lb., while most-active May feeder cattle dropped 4.125 cents to 161.8 cents.
Choice cuts of boxed beef rose by $1.23, to $254.02/cwt by Thursday morning, USDA said. Select cuts gained $2.73, to $247.21/cwt.
CME April lean hog futures closed down 1.05 cents to end at 100.1 cents/lb. June hogs gained 0.975 cent to finish at 114.9 cents/lb.
— Reporting for Reuters by Mark Weinraub in Chicago.
