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.
June and August live cattle futures also made small gains.
Most active March feeder cattle futures closed at 267.250 cents a pound, down 0.800 cents, while March feeders closed down 1.650 cents at 266.475 cents per pound.
Choice boxed beef was valued at $332.05 per cwt, down $1.11 from Friday the USDA said this afternoon. Select boxed beef was $319.55 per cwt, up $0.11.
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As of January 14, managed money traders in live cattle futures and options had added 3,965 contracts to their net long, for a total of 147,421 contracts, the commitment of traders report showed. Feeder cattle futures and options added 2,365 contracts for a new record net long of 28,749 contracts.
Most lean hog futures dipped on Tuesday, with most active April lean hogs settling at 86.700 cents a pound, down 1.625 cents. February lean hogs were the exception, edging up 0.075 cents to 81.200 cents per pound.
Pork carcass cutout values were $90.82 per cwt, down $1.49 over Friday according to the USDA’s afternoon report.
