Cattle futures combined as profit-taking, raid rumours weigh
11 June 2025
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Reside cattle futures on the Chicago Mercantile Change (CME) ended combined on Tuesday with the most-active August contract down on profit-taking, whereas robust money cattle markets and traditionally excessive beef costs underpinned the market, Reuters reported, citing analysts.
Rumors of immigration raids in Nebraska pressured futures at occasions, brokers mentioned, by fueling concepts that beef packing operations may gradual, probably backing up cattle provides.
Reuters was unable to substantiate that raids occurred at main Nebraska beef packing vegetation however native information stories mentioned US immigration officers raided Glann Valley Meals in Omaha, a family-owned meat producer.
“What’s true and what’s hearsay stays unclear,” Cassie Fish, an analyst and business knowledgeable, mentioned on The Beef weblog, noting that cattle futures have been hovering close to all-time highs. “With futures overbought, something at any time can encourage promoting, which is the case at present,” Fish wrote.
Most-active CME August stay cattle futures settled down 1.050 cents at 218.200 cents per pound and stayed under a contract excessive hit on Monday, however all different contract months set recent highs. Feeder cattle futures notched contract highs throughout the board, with benchmark August feeders closing up 1.5 cents at 313.150 cents per pound.
Money cattle traded calmly in Texas at $235 per hundredweight, brokers mentioned, regular with the best trades final week within the southern Plains.
Wholesale beef costs ratcheted upward, with selection cuts priced at $371.76 per cwt on Tuesday afternoon, up $4.51 from Monday, in keeping with information from the US Division of Agriculture. Choose cuts rose 91 cents at $359.84.
CME lean hog futures closed combined. Benchmark July hogs settled up a penny at 108.200 cents per pound after posting a contract excessive at 108.425 cents, whereas August and October hogs ended decrease.
Agency money hog costs continued to assist the market.
“Money hogs since Memorial Day have seen a little bit of power that we didn’t anticipate,” mentioned Wealthy Nelson, chief market strategist for Allendale Inc.
The USDA reported the pork carcass cutout on Tuesday afternoon at $110.88 per cwt, up 59 cents from Monday. Hams fell by $1.60 at $98.77 per cwt however bellies, used for bacon, rose by $4.08, at $170.55.
