Hog futures dip as traders reposition despite firm pork values - CME
Beef cutout slide weighs on CME cattle for fifth session
9 September 2025
2 minute read
By: Chicago Mercantile Exchange (CME) live cattle futures fell for a fifth successive session on Monday as lower cutout values anchored prices, Reuters reported, citing analysts.
Still, losses were limited by ongoing historically tight cattle supplies, analysts said.
"You're seeing the cutout values are slowly turning a little bit lower," said Altin Kalo, chief economist at Steiner Consulting Group. "They were lower on Friday and they're lower again today."
Until there is more evidence of a shift in demand, however, cattle futures continue to receive support, Kalo said.
CME October live cattle futures ended 0.175 cent lower at 235.800 cents per pound. Feeder cattle rose after four sessions of declines, with the October contract ending up 1.300 cents at 359.200 cents per pound.
The US Department of Agriculture (USDA) said the wholesale choice boxed beef value fell $1.07 per hundredweight on Monday to $409.76 per cwt. The select cutout rose $0.15 to $385.34 per cwt.
Beef packer margins were at $66.65 per head on Monday, down from $88.25 per head on Friday, according to livestock marketing advisory service HedgersEdge.
CME lean hog futures eased on Monday, as managed money shifted positions, according to Kalo. But the pork cutout failed to turn lower following the Labor Day weekend as is usually expected at the end of the summer grilling season.
The USDA reported pork carcasses rose $0.51 to $116.38 per cwt. Bellies rose $1.23 to $184.80 per cwt.
"I think it was more money flow than anything else," said Kalo of the downturn.
October futures ended 0.875 cent lower at 95.15 cents per pound.
The CME lean hog index price was $105.92 for the two days ending September 4, and $105.97 for the two days ending September 3.
