Cattle and hog prices at the Chicago Mercantile Exchange on Friday showed increases of varying degrees.
United States President Donald Trump announced on Thursday that certain imports from Mexico which fall under the Canada-U.S.-Mexico Trade Agreement will see tariffs delayed until April 2. Canada was also included in the official amendment after the markets closed.
The April live cattle contract jumped four U.S. cents per pound to end Friday at 200.275, surpassing the 200-cent mark for the first time since Feb. 6. The April feeder cattle contract gained 3.725 cents/lb. at 278.150 after reaching its highest level since Jan. 29.
The USDA reported rising wholesale boxed beef prices on Friday afternoon, with choice boxes up $1.78 at $314.90 per hundredweight and select boxes up $2.29 at $305.80.
April lean hogs were up 0.700 of a cent/lb. at 87.350, ending the week higher.
