Chicago cattle futures rebounded on Wednesday after dropping on Tuesday over news the U.S. Department of Agriculture would gradually reopen borders to Mexican cattle imports.
The phased resumption of imports would help bolster supplies that have significantly tightened since the United States shut off shipments from south of the border on May 11.
Most-active August live cattle closed at 212.450 cents per pound, up 1.700 cents. October live cattle settled at 209.700 cents a pound, up 1.900 cents.
Most-active August feeder cattle closed at 309.025 cents per pound, up 3.000 cents. September feeders settled at 308.875 cents a pound, up 3.225 cents.
Choice boxed beef was valued at $394.86 per cwt, down $0.74, the USDA reported. Select boxed beef closed at $380.31 per cwt, up $0.25.
Most-active August lean hog contracts closed at 107.900 cents a pound, up 0.950 cents. October lean hogs settled at 93.000 cents per pound, up 0.425 cents.
Pork carcass cutout value was reported at $110.75 per cwt, down $1.55, in the USDA’s afternoon report.
—With files from Reuters
