Cattle prices on the Chicago Mercantile Exchange slipped back on Tuesday despite earlier gains.
The August live cattle contract rose to US$212.850 per hundredweight during the day, but eventually closed at US$209.750, a loss of US$1.250 compared to Monday’s close. The August feeder cattle contract also reached its highest price since May 13 at US$304.550/cwt. but later ended the day at US$301.225 for a decline of US$0.525.
The United States Department of Agriculture reported retreats in choice and select box prices on Tuesday afternoon. Choice boxes were down US$0.56/cwt at US$365.44 and select boxes showed a loss of US$1.59/cwt at US$356.52.
July lean hogs rose to a four-month high of US$106.050/cwt., but ended the day in negative territory, down US$0.400 at US$104.575.
