Hog futures slip as fund selling extends recent downtrend - CME
Cattle futures rebound on short-covering and technicals
2 June 2026
1 minute read
By: Chicago Mercantile Exchange (CME) cattle futures advanced on Monday on technical buying and short-covering after two days of declines, and as futures were at a large discount to the most recent cash cattle trades, reported Reuters.
A drop in feed corn prices to multi-month lows and news that a New World screwworm case was found just 31 miles from the US border gave feeders an additional boost.
The US has been closed to Mexican cattle imports for months as cases of parasitic pests spread northward. The latest case was the closest to the US border so far in the outbreak.
August live cattle gained 1.550 cents to settle at 240.600 cents per pound, while August feeders jumped 3.125 cents to finish at 351.550 cents per pound.
Beef demand has been resilient despite historically high prices. But rising gas prices and slumping consumer sentiment have stoked fears that US consumers will cut back on purchasing beef, typically the priciest protein on grocery store shelves.
The US Department of Agriculture on Monday quoted the choice boxed beef cutout at $392.83 per hundredweight, up $1.36, while select cuts dipped by 9 cents to $383.09 per hundredweight.
Lean hog futures ended mostly lower, continuing a recent down-trend propelled by fund selling.
The actively traded July hog contract was the only gainer on the day, finishing up 0.350 cent at 99.850 cents per pound.
