U.S. livestock: Cattle retreat, hogs rise
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Chicago cattle futures retreated on Tuesday as regions of the U.S. reopened following snowstorms.
“Weather impacts on the cattle market should begin to loosen up starting today as the region thaws,” StoneX said in a note.
Most-active April live cattle futures lost 0.600 cents to close at 237.400 cents a pound. June contracts closed at 233.250 cents a pound, down 0.375 cents.
Most-traded March feeder cattle contracts closed at 362.000 cents a pound, down 0.600 cents. April feeders settled at 360.650 cents a pound, down 0.550 cents.
Choice boxed beef was valued at $368.11 per cwt, down $0.79. Select beef fell by $1.93 to $365.19 per cwt, the USDA reported.
Most-active April lean hog futures closed at 96.825 cents a pound, up 0.100 cents. June lean hogs gained 0.250 cents a pound to settle at 109.375 cents a pound.
Pork carcass cutout value settled at $95.69 per cwt, down $1.57.
