Cattle and hog futures decline amid port reopening news

Cattle and hog futures at the Chicago Mercantile Exchange have trended lower due to profit-taking, technical selling, and concerns regarding consumer demand. Cattle futures faced pressure following the announcement by US Agriculture Secretary Brooke Rollins that the USDA is preparing to reopen the Santa Teresa, New Mexico, port of entry at the US-Mexico border. The reopening, intended to resume livestock trade previously restricted by New World screwworm concerns, will begin with an initial limit of 750 head of cattle per day.

Market participants are also adjusting positions ahead of the USDA Cattle on Feed report. Analysts expect the report to show cattle in US feedlots at approximately 11.268 million head, a 1.7% increase from the previous year.

Lean hog futures have hit fresh lows, driven by ample US supplies and competition from poultry. Traders noted that slumping consumer demand, influenced by the costs of fuel and other consumer goods, remains a significant factor for both the beef and pork markets.