Chicago cattle futures extended record highs on Monday while lean hogs also saw gains.
Most active August live cattle closed at 219.250 cents a pound, up. 0.375 cents. October live cattle settled at 215.875 cents, up 0.350 cents per pound.
Most active August feeder cattle contracts settled at 311.650 cents a pound, up 1.500 cents. September feeders gained 1.575 cents to close at 310.700 cents a pound.
Choice boxed beef ended the day at $367.25 per cwt, up $2.17, the USDA reported. Select boxed beef closed at $358.93 per cwt, a gain of $2.20.
“Consumers haven’t seen anything yet as box prices continue to climb, and with fats higher last week, and potentially this, those box prices will be expected to climb further,” wrote analyst Christopher B. Swift.
Most active July lean hog futures closed at 107.200 cents a pound, up 0.100 cents. August lean hogs settled at 110.100 cents per pound, up 0.700 cents.
Pork carcass cutout value lost $1.22 to end the day at $110.29 per cwt, the USDA reported.
