The United States cattle and hog markets were two of many that rebounded on Wednesday one day after U.S. President Donald Trump imposed tariffs on Canadian, Mexican and Chinese imports.
Canada and China have already enacted retaliatory tariffs while Mexico will announce its plans by March 9.
The April live cattle contract rose 1.900 U.S. cents per pound to end Wednesday at 196.550. The day’s high of 197.225 was unseen since Feb. 13.
The April feeder cattle contract gained 3.575 cents/lb. at 276.075, its biggest one-day gain since Feb. 24.
Read Also
U.S. grains: Wheat futures rise on supply snags in top-exporter Russia
U.S. wheat futures closed higher on Thursday on concerns over the limited availability of supplies for export in Russia, analysts said.
The U.S. Department of Agriculture reported a decline in wholesale boxed beef prices on Wednesday afternoon, with choice boxes down $1.13 at $313.54 per hundredweight and select boxes losing $1.49 at $302.53.
After hitting a six-month low on Tuesday, April lean hogs moved upward by 2.350 cents/lb. at 84.700.
The USDA also reported that the U.S. cattle herd totaled 86.7 million head on Jan. 1, down from 87.2 million one year earlier. The Canadian herd was at 10.9 million, down from 11 million.
There were 75.8 million hogs and pigs in the U.S. as of Dec. 1, 2024, up from 75.4 million on Dec. 1, 2023. In Canada, there were 13.9 million hogs and pigs as of Jan. 1, down from 14 million.
