CME livestock futures dip as cash cattle prices fall $7 per hundredweight

Live cattle futures on the Chicago Mercantile Exchange (CME) closed lower on Friday, pressured by a $7 drop in cash cattle prices to about $248 per hundredweight in the southern Plains. The August live cattle contract fell 0.05 cent to 235.20 cents per pound, while the October contract dropped 1.05 cent to 230.55 cents. August feeder cattle settled 1.55 cent lower at 354.60 cents.

Packers' profit margins remain deep in the red, with slaughterhouses losing $337.25 per head. The USDA priced choice beef at $382.68 per cwt, up $1.87. Hog futures were mixed: August lean hogs rose 0.85 cent to 99.0 cents per pound, while October hogs fell 0.575 cent to 85.075 cents. The pork carcass cutout value increased to $101.34 per cwt, up $2.83. Analysts noted that hot‑weather forecasts for the Plains and Midwest could affect hog weights next week.