Lean hog futures decline - CME
Cattle futures rise for third straight session
26 February 2025
2 minute read
By: Chicago Mercantile Exchange (CME) live cattle futures rose for a third straight session on Tuesday, following strength in feeder cattle futures and wholesale beef prices, reported Reuters.
CME April live cattle futures settled up 0.625 cent at 195.725 cents per pound, extending a rally from a near two-month low of 193.025 cents last week. The contract was nearing chart resistance at its 50-day moving average at 196.5 cents.
March feeder cattle futures ended 1.925 cents higher at 274.225 cents per pound, supported by cheaper prices of corn, a key cattle feed grain. Chicago Board of Trade corn futures touched a three-week low.
In the wholesale beef market, the US Department of Agriculture (USDA) priced choice cuts at $314.32 per hundredweight on Tuesday afternoon, up 59 cents from Monday. Select cuts were up 16 cents at $304.13.
Tuesday's cattle slaughter totaled 122,000 heads, the USDA said, up from 118,000 heads a week ago. The week-to-date cattle kill reached 217,000 heads, up from 213,000 a week ago but behind the year-ago pace of 245,479 heads.
CME lean hog futures declined. The most-active April contract fell for a fifth straight session, settling down 0.825 cent at 86.575 cents per pound.
Pork prices slipped, with the USDA pricing carcasses at $95.65 per cwt on Tuesday afternoon, down $2.78 from Monday.
The USDA reported Tuesday's hog slaughter at 489,000 heads. The week-to-date total was 979,000 heads, up from 968,000 a week ago but just behind the year-ago kill of 979,753 heads.
