Chicago lean hog contracts dipped as a U.S. Department of Agriculture report showed inventories slightly up. Cattle futures were unchanged to slightly up.
Most-active August lean hog contracts closed at 110.250 cents a pound, down 0.975 cents. October lean hogs settled at 94.875 cents a pound, down 0.850 cents.
Pork carcass cutout value settled at $119.65 per cwt, down $2.16, the USDA reported.
The U.S. inventory of all hogs and pigs as of June 1 was 75.1 million head, the USDA said in its quarterly Hogs and Pigs report. This was up slightly from a year prior, and up one per cent from March. Market hog inventory was 69.2 million head, also up slightly from last year and up one per cent from the last quarter.
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U.S. livestock: Cattle futures continue gains, hogs slide
Chicago cattle futures made gains for the second day running while lean hog contracts settled with small losses.
Most-active August live cattle closed at 209.200 cents a pound, up 0.225 cents. October live cattle were unchanged at 206.350 cents a pound.
Most-traded August feeder cattle settled at 303.300 cents per pound, up one cent. September feeders closed at 303.375 cents, up 0.775 cents a pound.
Choice boxed beef ended the day at $395.05 per cwt, up 11 cents. Select boxed beef gained $3.45 per cwt to close at $379.74.
