U.S. livestock: Cattle mixed despite fresh supply threats

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Published: 9 hours ago

Photo: Canada Beef Inc.

Cattle futures on the Chicago Mercantile Exchange were mixed on Thursday, with fresh contract highs in the feeder cattle market while live cattle ran into resistance at their own highs to settle with small losses.

The United States blocked cattle imports from Mexico once again as New World screwworm moved closer to the border between the two countries. The U.S. had lifted an earlier ban just a few days ago.

Mounting trade tensions between the U.S. and Brazil also supported the cattle market, although chart-based positioning kept any gains in check.

August feeder cattle futures were up by 0.800 cents per pound at 321.275 cents per pound.

The August live cattle contract lost 0.550 cents per pound at 219.225 cents at the close.

The U.S. Department of Agriculture reported wholesale boxed beef prices were lower on Thursday, with choice boxes down $1.79 at $384.66 per hundredweight and select boxes down $2.41 at $370.86.

Lean hog prices were down one cent per pound in the August contract at 106.225 cents.

About the author

Phil Franz-Warkentin

Phil Franz-Warkentin

Editor - Daily News

Phil Franz-Warkentin grew up on an acreage in southern Manitoba and has reported on agriculture for over 20 years. Based in Winnipeg, his writing has appeared in publications across Canada and internationally. Phil is a trusted voice on the Prairie radio waves providing daily futures market updates. In his spare time, Phil enjoys playing music and making art.

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