Chicago Mercantile Exchange cattle futures climbed on Monday while hogs fell back.
Most active April live cattle closed at 195.100 cents a pound, up 1.150 cents. June live cattle rose 1.075 cents to close at 191.400 cents a pound.
Most active March feeder cattle settled at 272.300 cents a pound, up 4.350 cents. April feeder cattle closed at 272.025 cents per pound, up 4.475 cents.
Choice boxed beef was priced at $313.73 per cwt, up $2.96 the USDA reported this afternoon. Select boxed beef was valued at $303.97 per cwt, up $1.41.
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USDA adjusts supply/demand estimates
Corn and soybean yields in the United States were left unchanged in the latest supply/demand estimates from the U.S. Department of Agriculture, released July 11, although a reduction in harvested area led to small downward revisions to production for the crops.
The USDA reported on Friday that calves and cattle on feed for the U.S. slaughter market (feedlots of 1,000 head or more) totalled 11.7 million head at the beginning of February. This was one per cent less than last February.
January placements in feedlots totalled 1.82 million head, two per cent above January 2024, while 1.87 million head were marketed, up one per cent from the previous year.
Another case of New World screwworm was detected in a cow in Quintana Roo, Mexico, Dow Jones reported today. Last week, a case of the flesh-eating parasite was found in an animal in Mexico’s Tabasco region. The USDA has not so far threatened to reinstate a ban on Mexican cattle.
Most active April lean hogs settled at 87.400 cents a pound, down 0.275 cents. June lean hog futures closed at 99.925 cents per pound, down 0.700 cents.
The USDA reported pork carcass cutout value at $98.43 per cwt, up $1.36.
