Live cattle futures hit new contract highs on Wednesday while cattle futures came close and lean hog futures continued to recover from recent lows.
The August live cattle contract gained US$1.500 per hundredweight to finish the day at US$223.900, 50 cents below the new contract high reached earlier on Wednesday. The October contract rose US$1.475/cwt to end at US$220.750 after reaching a new high of US$221.175.
August feeder cattle jumped US$3.300/cwt to close at US$325.575 after hitting a session high of US$326.300, 57.5 cents below the high mark set July 10. The September contract was up US$3.475/cwt at US$325.850 after attaining the US$326.400 mark, just 17.5 cents short of the contract high also set on July 10.
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Choice and select box prices saw sharp drops on Wednesday afternoon. Choice boxes lost US$4.87/cwt at US$372.85, while select boxes were trimmed by US$4.67/cwt at US$357.91.
August lean hogs had their second straight positive session, moving up 50 U.S. cents/cwt at US$104.425. October lean hogs had a bigger jump at US$1.225/cwt to close at US$88.700.
China’s National Bureau of Statistics reported 2025 pork production was up 1.4 per cent year-by-year due to higher slaughter weights. Another ministry said Chinese sow numbers were up 1.2 per cent for the year at the end of May.
