Chicago Mercantile Exchange cattle ended the week down ahead of the President’s Day long weekend.
Most active April live cattle futures closed at 194.250 cents per pound, down 2.275 cents. June live cattle settled at 190.450 cents per pound, down 1.975 cents.
Most active March feeder cattle ended the day at 266.350 cents per pound, down 1.625 cents. April feeders settled down 1.550 cents per pound at 266.425 cents.
At midday, a weaker cash market was adding pressure, said analyst Austin Schroeder.
The USDA reported choice boxed beef ended the day at $314.70 per cwt for a loss of $2.70. Select boxed beef ended at $307.14 per cwt, down $2.70.
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Most active April lean hogs settled at 92.600 cents per pound, down 0.500 cents. June lean hogs closed down 0.600 cents at 104.675 cents per pound.
Pork carcass cut-out value was $101.99 per cwt, up $1.12.
Yesterday, the U.S. congress confirmed Brooke Rollins to lead the U.S. Department of Agriculture.
Today, Rollins said the Elon Musk-led Department of Government Efficiency team had been at the USDA for “a few weeks.”
“We know that that work will make us better here at USDA. It will make us stronger, it will make us faster, and it will make us more efficient,” she said.
—With files from Reuters
