Livestock futures experienced mixed price action today, with cattle futures under pressure while lean hogs rallied. August Live Cattle futures fell 95 cents to settle at 239.65, clawing back about $2.50 from its opening lows. August Feeder Cattle futures fell $3.12 to settle at 348.42, recovering $3.50 from morning lows. In contrast, July Lean Hog futures surged $1.80 to finish at 101.65. Wholesale boxed beef prices closed firmer, with Choice cuts up 98 cents and Select cuts up 73 cents. Daily slaughter was reported at 104,000 head, down 10,000 head from last year. Traders are also closely monitoring headlines regarding the proximity of screwworm to the U.S. border, which may trigger long liquidation. The latest Commitment of Traders report indicated that funds were net sellers of approximately 4,000 Live Cattle futures contracts, bringing their net long position down to 120,000 contracts, the lowest level seen since March.
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Learn more about trading futures and options at CME Group:
https://www.cmegroup.com/markets/agriculture.html
#CattleFutures #LivestockMarkets #CMEGroup