Chicago Mercantile Exchange live and feeder cattle futures climbed to life of contract highs on Wednesday, as funds took a massive net long position, analysts said.
Brazilian beef companies do not expect to be hurt by potential new tariffs from U.S. President Donald Trump's administration because of low inventories of cattle in the U.S. and a sizable tariff that already exists on these exports.
Chicago Mercantile Exchange cattle futures were mixed as trade resumed following the U.S. long weekend. Most active April live cattle futures closed with small losses, reaching 197.325 cents per pound, down 0.175 cents. February live cattle gained 0.300 cents to close at 197.050 cents per pound.
There was a surge in farmer selling across Western Canada last week. Sales volumes were larger than normal at many auction barns. The fear that President Trump would implement a tariff on feeder cattle ignited fears that that market would drop sharply.
Chicago Mercantile Exchange lean hog futures closed lower on Friday, continuing a streak of losses. Most active April lean hogs settled at 88.325 cents a pound, down 2.225 cents. February lean hogs closed at 81.123 cents a pound, down 1.175 cents.
For the week ending January 11, Western Canadian feeder cattle prices were up $15-$20/cwt compared to the week ending December 21, 2024. In eastern Saskatchewan and Manitoba, quality packages of steers 800 pounds and over traded $20/cwt to $25/cwt higher compared to three weeks earlier.
Chicago Mercantile Exchange live cattle and feeder cattle futures dipped on Monday after reaching record highs last week. Most active February live cattle closed at 197.400 cents per pound, down 1.375 cents from Friday. The second-most active April futures closed at 198.200, down 1.275 cents.
Chicago Mercantile Exchange cattle futures added small gains to contract highs, Friday. Most active February live cattle futures closed at 198.775 cents per pound, up 1.175 cents from Thursday. April live cattle were up 1.200 cents to 199.475 cents a pound.