Live and fed cattle futures on the Chicago Mercantile Exchange dropped back on Thursday, despite strong export sales.
The United States Department of Agriculture reported export sales of 24,907 tonnes for the week ended Jan. 30. That’s up 23.5 per cent from the previous week and the most since August.
The April live cattle contract fell 4.525 cents per pound at 196.775 cents.
March feeder cattle futures dropped 5.425 cents at 265.300 cents per pound.
The USDA reported wholesale boxed beef prices were mixed on Thursday afternoon, with choice boxes down $1.36 at $323.98 per hundredweight while select boxes added $0.44 at $314.77.
Export sales of U.S. pork amounted to 50,671 tonnes, up 51 per cent from the previous week.
Lean hog prices nudged higher on Thursday. The April contract tack on 0.200 of a cent per pound at 91.750 cents.
