Hog futures edge higher even as pork prices slide - CME
Cattle futures slip on profit-taking and Cattle on Feed data
19 June 2026
1 minute read
By: Chicago Mercantile Exchange (CME) cattle futures closed lower on Thursday as traders sought profits ahead of the holiday weekend, and adjusted positions in anticipation of any seasonal dips in steak demand after Father's Day, Reuters reported, citing market analysts.
Cash cattle markets have cooled slightly in recent days, as some packers have been unwilling to continue to pay high premiums for cattle — even as supplies are tight — as their margins have been deeply in the red for weeks, said Karl Setzer, partner at Consus Ag Marketing.
The market also is seeing some adjustments in basis, where the gap in prices between lower-priced futures and higher-priced cash markets is beginning to tighten, said Don Roose, president of Iowa-based US Commodities.
Now, as grilling season is well underway, "the trade is concerned that we'll start to see some seasonal demand slide for beef," Roose said.
On Thursday, after market trading ended, the US Department of Agriculture reported that the country had 2% more cattle in feedlots as of June 1 than a year earlier — slightly below analysts' expectations of a 2.5% increase.
The monthly Cattle on Feed report also showed that May placements of cattle into feedlots were down 10% from a year earlier - sharply lower than market estimates of a 5.5% drop. May marketings of fed cattle during May were 12% below the same time in 2025. Analysts had estimated May marketings would be down 10.6%.
CME June live cattle futures settled 0.925 cent lower at 254.800 cents per pound while benchmark August live cattle ended 2.225 cents lower at 246.625 cents.
CME August feeder cattle futures closed 0.825 cent lower at 366.600 cents per pound.
Hog futures were mixed, with the nearby July lean hog and August contracts turning higher as wholesale pork prices continued to slump. The USDA priced pork carcasses Thursday afternoon at $93.71 per cwt, down $1.06 from Wednesday.
CME July lean hog futures settled up 0.375 cent at 95.025 cents per pound while most-active August hogs ended up 0.225 cent at 96.725 cents.
Chicago markets will be closed on Friday for the Juneteenth holiday.
