US cattle futures decline as profit‑taking and feedlot data weigh

Live cattle futures on the Chicago Mercantile Exchange slipped on Thursday as traders took profits ahead of the Juneteenth holiday and adjusted positions ahead of a possible seasonal dip in beef demand after Father's Day. The USDA’s latest Cattle on Feed report showed the nation had 2% more cattle in feedlots on June 1 than a year earlier, slightly below the 2.5% rise analysts expected, while May placements into feedlots fell 10% year‑over‑year, well beneath the 5.5% forecast. The tighter basis between futures and cash markets and thinning margins for packers contributed to the pull‑back.

Hog futures were mixed, with lean‑hog contracts edging higher as wholesale pork prices continued to slide. The USDA priced pork carcasses at $93.71 per cwt, down $1.06 from the previous day. Chicago markets were closed on Friday for the Juneteenth holiday.