June lean hog futures settle up - CME
Cattle gain as Wall Street rebounds
23 April 2025
2 minute read
By: Chicago Mercantile Exchange (CME) live and feeder cattle futures strengthened on Tuesday on support from rising equity markets while hog futures also ticked up on a seasonally tighter supply of hogs, Reuters reported, citing traders.
US stocks rebounded on Tuesday as a spate of quarterly earnings reports helped investors look past President Donald Trump's warnings of recession if the US Federal Reserve does not cut interest rates, which sparked worries that the central bank could lose its essential autonomy.
"We followed outside markets higher today after following them lower yesterday," Matthew Wiegand, broker at FuturesOne, said. Cattle futures ticked down on Monday as a falling equities market fueled worries about lower consumer demand for beef.
CME June live cattle futures settled up 2.525 cents at 206.275 cents per pound and August feeder cattle futures ended 2.1 cents higher at 291.25 cents per pound.
In the beef market, choice cuts of boxed beef rose $1.53 to $335.05 per hundredweight (cwt) and select cuts rose $1.40 to $320.17 per cwt as of Tuesday morning, according to data from the US Department of Agriculture. The USDA reported wholesale values for pork carcasses fell $0.61 to $95.78 per cwt.
Meanwhile, increased pork demand ahead of the start of grilling season and a seasonally tighter number of hogs have supported hog futures.
CME June lean hog futures settled up 2.225 cents to 100.275 cents per pound.
