![]() Mark Weinraub is a Reuters commodities correspondent in Chicago. Profit margins for meat packers fell to $142.48 per head of cattle, up from $182.55 on Friday and $144.05 a week ago, according to livestock marketing advisory service HedgersEdge. Select cuts were $3.68 lower at $304.25/cwt. Department of Agriculture priced choice cuts of beef at $334.25 per hundredweight (cwt) on Wednesday afternoon, $2.66 lower than on Tuesday. The contract faced technical resistance at its 20-day moving average during Wednesday’s session. USDA priced the pork carcass cutout at $96.08/cwt on Wednesday afternoon, $1.46 higher than Tuesday.ĬME’s benchmark August live cattle contract settled up 0.05 cents at 169.75 cents/lb. 20, 2022 before retreating into negative territory. On a continuous basis, the front-month contract hit its highest since Sept. For additional historical data, dating back to the 1970s, visit the ERS Red Meat Yearbook. while August hogs ended down 0.425 cent at 92.775 cents/lb. The annual limit for LRP-Feeder Cattle is 25,000 head per producer per year (July 1 to June 30). Consumers should be able to trust that the label claims they see on products bearing the USDA mark of inspection are truthful and accurate, said Agriculture Secretary Tom Vilsack in a. 16.ĬME July hogs fell 1.1 cents to 94.75 cents/lb. USDA said it is working to strengthen the substantiation of animal-raising claims, protecting consumers from false and misleading labels. The August CME feeder cattle contract dropped 4.425 cents, to 227.725 cents/lb., falling below the low end of its 20-day Bollinger range for the first time since Nov. Hog futures fell from a nine-month high on a round of profit-taking, with the most-active August contract snapping a streak of seven straight higher closes. Chicago | Reuters - Chicago Mercantile Exchange feeder cattle futures eased on Wednesday, with surging corn prices expected to boost feeding costs in the coming weeks, traders said.īut live cattle contracts were close to unchanged.
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