Chicago cattle and hog contracts fell across the board as U.S. advance gross domestic product data pointed to the first quarterly decline in three years.
“This morning’s economic data set the tone for a lower trade in most markets and cattle futures responded to the defensive price action,” wrote analysts at Swift Trading Company.
“The US economy is slowing. Less spending power, higher fixed costs and leveraged US consumer are all contributing to recession fears that if materialized, will work its way into discretionary spending habits.”
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U.S. livestock: Feeder cattle extend rally to new highs
Chicago Mercantile Exchange feeder cattle futures extended gains to record highs on Wednesday while live cattle futures set a contract high before pulling back.
U.S. real gross domestic product decreased at an annual rate of 0.3 per cent in the first quarter of 2025 according to U.S. Bureau of Economic Analysis advance estimates.
Most active June live cattle futures settled at 208.400 cents a pound, down 1.8 cents. August live cattle closed at 204.050 cents, down 1.625 cents a pound.
Most active August feeder cattle closed at 295.025 cents a pound for a loss of 1.875 cents. May feeders settled at 292.575 cents per pound for a loss of 1.450 cents.
Choice boxed beef slid $2.95 to close at $345.31 per cwt, the USDA reported. Select boxed beef ended the day at $322.02 per cwt, down $1.80.
Most active June lean hog contracts closed at 98.600 cents per pound, a loss of 1.175 cents. July lean hogs settled at 98.600 cents a pound, down 1.000 cents.
The USDA reported pork carcass cutout value at $96.61 per cwt, up $0.02.
—With files from Reuters
