U.S. livestock: Cattle, hog futures firm

Chicago | Reuters – Chicago Mercantile exchange live cattle futures firmed to their highest in more than three months on Friday, while hog futures edged back toward the 13-1/2-month high hit on Wednesday.

CME August live cattle futures LCQ2 settled 0.175 cent higher at 137.875 cents per lb, with the front-month contract LCc1 hitting its highest since April 29 during the session, and most-active October LCV2 gained 0.225 cent to 143.875 cents.

September feeder cattle futures FCU2 closed up 0.85 cent at 183.425 cents per lb.

In the U.S. wholesale beef market, choice cuts fell $1.18 to $265.10 per hundredweight (cwt) by Friday morning, according to the U.S. Department of Agriculture. Select cuts lost $1.08 to $239.27 per cwt.

August lean hog futures LHQ2 rose 0.175 cent to 120.825 cents per lb and the most-active October contract LHV2 gained 0.8 cent to 98.4 cents.

The front-month hog contract LHc1 hit its highest on a continuous basis since June 2021 on Wednesday, peaking at 120.95 cents.

The USDA reported the pork carcass value at $124.49 per cwt on Friday morning, 31 cents lower than Thursday afternoon.