Hog prices slip as slaughter pace edges higher - CME
Cattle futures retreat as profit-taking hits beef markets
12 January 2026
1 minute read
By: Profit-taking dragged down Chicago Mercantile Exchange (CME) cattle futures on Friday after the markets jumped to their highest levels since October this week, Reuters reported, citing traders.
Prices climbed recently on expectations that Washington will continue to restrict U.S. imports of Mexican cattle due to the spread of New World screwworm in Mexico. The US Department of Agriculture (USDA) has largely blocked imports of Mexican livestock since May in a bid to keep out the flesh-eating parasite.
Recent cases have fueled doubts among traders that the USDA will reopen the border soon. This would keep American supplies tight after US ranchers in recent years slashed the nation's herd to the smallest size in decades.
"It's safe to say that those odds of reopening have trended downward in these past 2-3 weeks as cases appear to be advancing," consultancy StoneX said in a note.
CME March feeder cattle futures ended down 3.025 cents at 354.700 cents per pound, while February live cattle futures fell 1.550 cents to close at 233.725 cents per pound.
The USDA did not respond to a question from Reuters about whether it would resume US cattle imports from Mexico this month. In a statement, the agency repeated that it was working to stop the northward spread of screwworm in Mexico and improve strategic planning in the US.
"Isolated detections outside of the known affected areas in Mexico are not unexpected," the USDA said.
The USDA estimated in a daily report that meatpackers slaughtered 86,000 cattle on Friday, down from 116,000 cattle a week ago and 105,986 cattle a year ago. Packers processed an estimated 484,000 hogs, up from 477,000 a week ago and 466,835 a year ago.
In CME's lean hog market, February futures fell 0.575 cent to end at 85.300 cents per pound.
In other news, traders awaited the US Supreme Court's ruling on the legality of President Donald Trump's sweeping global tariffs.
