CME cattle futures fall on profit taking, lower beef prices
DBA•CME cattle futures fell for a second straight session on Thursday as traders took profits and wholesale beef prices weakened. December live cattle settled down 0.225 cent at 223.550 cents per pound, while November feeder cattle fell 0.925 cent to 334.875 cents per pound.
1. Cattle futures retreat
Cattle futures fell after sharp gains earlier in the week, with lower wholesale beef prices and slow cash-market trade weighing on prices. Increased cattle supplies from Mexico also weighed on feeder cattle, while generally strong consumer demand continued to underpin both markets.
2. Beef and hog prices
The USDA quoted choice boxed beef at $374.87 per hundredweight at midday Thursday, down 75 cents from a day earlier; select cuts fell $2.12 to $352.09. Packer margins narrowed to $83.75 per head from $126.45 a week earlier. December hog futures settled down 0.500 cent at 68.600 cents per pound, near their contract low, while October, February 2027 and April 2027 hog contracts reached life-of-contract lows during the session.
