U.S. cattle and hog futures slide on profit‑taking, tighter packer margins

On May 4‑5, 2026, Chicago Mercantile Exchange live cattle contracts fell after a wave of profit‑taking. June live cattle settled 0.25 ¢ lower at 251.75 ¢ per pound in one session and 1 ¢ lower at 253.00 ¢ per pound in the next, while August feeder cattle also slipped. Tight cattle supplies, a strong cash market and upbeat consumer demand ahead of the grilling season kept prices from falling further.

At the same time, lean‑hog futures slid, with the June contract down 1.525 ¢ to 99.75 ¢ per pound and later 1 ¢ lower at 101.275 ¢ per pound, as analysts flagged demand concerns for pork. Beef packer margins deteriorated, with estimated losses of $225.55 per head of cattle slaughtered in one report and $197.95 per head in another. USDA boxed‑beef cutout prices showed modest moves, and Tyson Foods reported better‑than‑expected earnings thanks to stronger chicken sales, which helped offset weaker beef demand.