Live cattle futures on the Chicago Mercantile Exchange hit fresh contract highs on Monday, while feeder cattle ran into resistance and backed away from their own highs to settle with small losses.
U.S. cattle on feed data released after Friday’s close showed 11.8 million head of cattle in feedlots with a capacity of 1,000 head or more as of Jan. 1, 2025. That was down one per cent on the year. Of the total, heifers and heifer calves were down three per cent at 4.58 million head, while steers and steer calves increased one per cent at 7.25 million.
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Cattle placements in December at 1.642 million head were down 3.3 per cent from the same month a year ago.
Colombia and the U.S. stepped back from a major trade war after the two countries threatened sanctions on each other. The South American country is a major buyer of U.S. beef, only recently resuming purchases after having imposed a ban due to concerns over bird flu in the U.S.
The April live cattle contract was up by 0.800 cents per pound at 203.825 cents.
March feeder cattle futures were down by 1.325 cents per pound at 275.250 cents per pound.
The U.S. Department of Agriculture reported wholesale boxed beef prices were stronger Monday morning, with choice boxes up $0.35 at $328.27 per hundredweight and select boxes up $1.73 at $318.02.
Lean hog prices were stronger, rising 1.675 cents per pound in the April contract at 89.875 cents.
