U.S. livestock: CME cattle futures fall; lean hogs make slight gains

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Published: January 8, 2025

 Photo: Canada Beef

CME cattle futures fell on Wednesday after days of hitting fresh highs.

Most active February live cattle futures settled at 193.700 cents per pound, down 1.875 cents a pound from Tuesday. March live cattle futures fell 2.025 cents per pound to 266.025 cents a pound.

The market is approaching overbought territory, Barchart reported.

Most active March feeder cattle futures closed at 264.975 cent per pound, down 2.950 cents from Tuesday.

The U.S. Department of Agriculture reported choice beef cutout values at $328.61 per cwt, up $2.82 from yesterday. Select beef sat at 306.80 cents per cwt, up $1.46.

Overall market dynamics suggest continued upward pressure on cattle futures, analysts said. Tight cattle supplies are expected to continue, and harsh winter conditions may impact cattle weight gain, further constraining supplies.

Most active February lean hog futures rose 0.300 cents per pound to 79.475 cents. April lean hog futures fell to 85.700 cents per pound, down 0.650 cents from yesterday.

This afternoon, the USDA FOB plant pork cutout value was up $2.13 to $90.53 per cwt. Most primal cuts ended the day up.

About the author

Geralyn Wichers

Geralyn Wichers

Digital editor, news and national affairs

Geralyn graduated from Red River College's Creative Communications program in 2019 and launched directly into agricultural journalism with the Manitoba Co-operator. Her enterprising, colourful reporting has earned awards such as the Dick Beamish award for current affairs feature writing and a Canadian Online Publishing Award, and in 2023 she represented Canada in the International Federation of Agricultural Journalists' Alltech Young Leaders Program. Geralyn is a co-host of the Armchair Anabaptist podcast, cat lover, and thrift store connoisseur.

 

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