Cattle futures end mixed - CME
Hog futures close higher on cash market strength
11 March 2025
2 minute read
By: Chicago Mercantile Exchange (CME) lean hog futures turned higher on Monday, amid strength in the cash market and anticipation of growing consumer demand as temperatures warm going into spring, Reuters reported, citing market analysts.
Hog futures also gained support by US President Donald Trump temporarily exempting goods from Mexico from steep tariffs that he had imposed - and the fact that Mexico did not roll out retaliatory tariffs against US goods, traders said.
Mexico is the largest buyer of US pork, and the tariff threats had raised fears of export disruptions.
"All of that prompted some short covering and bargain buying during the session," said Dan Norcini, an independent livestock trader.
CME's April lean hog contract settled up 0.950 cent at 88.300 cents per pound. June hogs ended up 0.725 cent at 98.825 cents.
Meanwhile, live cattle futures ended the day higher, bolstered by traders expecting cash cattle prices to remain elevated this week as packers pay up for supplies, traders said.
CME April live cattle settled up 0.300 cent at 200.575 cents per pound after reaching 201.650 cents, the contract's highest since February 5.
And nearby CME feeder cattle futures ended the day slightly lower.
April feeder cattle futures settling down 0.225-cent at 277.925 cents per pound. May feeders ended down 0.125-cent at 278.55 cents per pound on some signs of profit-taking after setting a life-of-contract high on Friday.
Wholesale prices firmed. The US Department of Agriculture priced choice cuts of boxed beef at $316.32 per hundredweight (cwt) on Monday morning, up $1.42 from Friday. Select cutout was priced at $307.00 per cwt, up $1.20.
