Chicago Mercantile Exchange cattle futures rebounded on Thursday while hogs tumbled.
Most active April live cattle futures settled at 196.125 cents per pound, up 1.500 cents. June live cattle closed at 192.325 cents, up 1.050 cents a pound.
Most active April feeder cattle futures settled at 275.550 cents a pound, up 2.025 cents. March feeders ended the day at 276.450 cents a pound, up 2.075 cents.
Choice boxed beef fell, meanwhile, ending the day at $311.18 per cwt, down $1.72 as per USDA reports. Select boxed beef was valued at $302.13 per cwt, down $1.11.
Lean hog futures continued their downward trend after yesterday’s gains. Most active April lean hogs settled at 84.475 cents a pound, down 3.935 cents. June lean hogs closed at 97.600 cents per pound, down 3.275 cents.
The USDA reported pork carcass cutout value at $100.96 per cwt, up $4.30 over yesterday.
Yesterday, U.S. President Donald Trump said he would push back tariffs on Canadian and Mexican imports to April, leading to jumps in the value of the Canadian dollar and Mexican peso. However, today Trump reiterated that he will impose tariffs on March 4.
