CME cattle and hog futures show mixed trends as USDA reports loom

At the Chicago Mercantile Exchange, live cattle futures fell for a 15th straight session, with the August contract down about $2.65 to $224.425 per pound and the October contract down $2.575 to $220.70. Feeder cattle futures also slipped as traders awaited the USDA’s direct‑business report and weekly livestock statistics.

In contrast, lean‑hog futures rose to a two‑month high. August lean‑hog contracts settled up $1.375 to $101.65 per pound and October contracts gained $1.025 to $87.95. The CME Lean Hog Index climbed to its highest level since October, reflecting stronger cash hog prices.

Analysts linked the cattle decline to summer heat softening beef demand and a quiet cash market, while noting that meat packers were regaining leverage in buying cattle. The hog rally was helped by hotter weather curbing hog weights and a shift by speculators from cattle to hog spreads. Recent USDA pricing of choice beef cuts and pork carcass cutout were also cited as market influences.