Hog futures firm despite soft consumer spending data - CME
Cattle futures drift lower on limited buying interestChicago Mercantile Exchange (CME) live and feeder cattle futures traded in a narrow range on Tuesday before ending lower amid limited buying interest and a. . .
Cattle futures drift lower on limited buying interestChicago Mercantile Exchange (CME) live and feeder cattle futures traded in a narrow range on Tuesday before ending lower amid limited buying interest and a lack of fresh news,reported Reuters. Beef wholesale ticked lower. The US Department of Agriculture (USDA) priced choice cuts of beef 11 cents lower at $371. 31 per hundredweight. Select cuts were priced $1. 04 lower from the previous day at $349. 80 per cwt. Smithfield Foods cut its annual total sales and adjusted operating profit forecasts on Tuesday, citing ongoing challenges including cautious consumer spending and higher input costs. Data on Friday data showed the US economy unexpectedly shed jobs in July and sharp downward revisions to job gains in the prior two months, analysts said. CME August live cattle futures settled 0. 525 cent down at 232. 75 cents per pound. CME August feeder cattle futures fell 0. 575 cent to 350. 175 cents per pound. The USDA said in an X post on Monday that a Texas facility to breed sterile flies to combat screwworm will open ahead of schedule in spring 2027. The USDA priced the pork carcass cutout on Friday morning at $101. 48 per hundredweight, down 33 cents from the previous day. CME August lean hog futures settled 1. 575 cents higher to 95. 875 cents per pound.