Live and fed cattle futures on the Chicago Mercantile Exchange were lower on Thursday, following the trend in most North American futures and stock markets. The downturn came after United States President Donald Trump announced his wide-ranging reciprocal tariffs on Wednesday.
Meanwhile, the U.S. Department of Agriculture issued its export sales report for the week ended March 27, with beef sales improving to 9,261 tonnes. Also, the U.S. Census Bureau reported February beef exports amounted to 227.4 million pounds, down 6.9 per cent from a year ago.
The June live cattle contract lost 2.700 cents at 204.700 cents per pound.
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May feeder cattle futures fell 4.800 cents at 283.125 cents per pound.
Wednesday’s federally inspected cattle slaughter was 124,000 head, 15,000 fewer than the previous Wednesday.
The USDA reported wholesale boxed beef prices were lower on Thursday afternoon, with choice boxes losing $1.53 at $338.37 per hundredweight, while select boxes gave up 99 cents at $317.84.
Lean hog prices were down as well on Thursday. The June contract pulled back 0.975 of a cent at 95.550 cents per pound. The USDA reported Wednesday’s federally inspected hog slaughter was 485,000 head, down 12,000 from the previous Wednesday.
The USDA reported pork export sales came to 52,953 tonnes, a marketing year high. Census data said 565.2 million pounds of pork were exported in February, 4.8 per cent less than the same time last year.
