Beef futures rebound on money energy and boxed worth positive factors
30 Could 2025
2 minute learn
Chicago Mercantile Alternate (CME) cattle futures rallied on Thursday following a two-day decline, lifted by sturdy money cattle markets and rising wholesale beef costs, Reuters reported, citing merchants.
Benchmark CME August dwell cattle futures rose 1.900 cents to settle at 210.075 cents per pound and August feeder cattle ended up 4.300 cents at 299.925 cents per pound.
On the money facet, market-ready cattle traded in Texas and Kansas at $222 per hundredweight (cwt), up $1 to $3 from final week, the US Division of Agriculture (USDA) reported.
“Money commerce was fairly sturdy once more,” stated Austin Schroeder, senior commodity analyst at Brugler Advertising and Administration, including that rising boxed beef costs additionally lent assist.
The USDA priced alternative cuts of boxed beef at $366.09 per cwt on Thursday afternoon, up 67 cents from Wednesday, whereas alternative cuts have been up $1.90 at $353.64.
Hog futures closed decrease, shrugging off assist from agency wholesale pork and money hog costs. CME June hog futures settled down 0.250 cent at 100.025 cents per pound and July hogs fell 0.325 cent to complete at 102.975 cents.
The USDA priced pork carcasses on Thursday afternoon at $104.62 per cwt, up $2.22 from Wednesday.
The CME’s Lean Hog Index, a two-day weighted common of money costs, was up 0.47 cent at 93.52 cents per pound.
Market gamers await the USDA’s weekly export gross sales report, which was delayed till Friday on account of Monday’s federal vacation.
