Hog futures slip as pork cutout edges higher - CME
Cattle futures fall as post-holiday beef demand fades
10 July 2026
1 minute read
By: Chicago Mercantile Exchange (CME) live and feeder cattle futures fell on Thursday amid seasonal weakness in consumer demand for beef, Reuters reported, citing analysts.
CME August live cattle finished 2.375 cents lower at 235.25 cents per pound. CME August feeder cattle settled 5.80 cents lower at 356.15 cents per pound.
The US Department of Agriculture priced wholesale choice cuts of beef at $379.82, down $1.38 from the previous day, while select cuts rose $1.10 to $364.19 per hundredweight.
Consumer demand has weakened as strength from the grilling season faded amid hot weather and the lack of grilling holidays.
"The peak of grilling season has passed us," said Rich Nelson, chief strategist at Allendale. "This is a time when consumers step back since the second half of summer is warmer and muggy."
Cattle futures have also come under pressure due to worries about consumers' ability to buy beef, typically the priciest protein on grocery store shelves.
A report last week showed US job growth slowed sharply in June, pointing to a cooling labor market and prompting financial markets to dial back expectations for a near-term interest rate hike from the Federal Reserve.
Meanwhile, the US Department of Agriculture dramatically lowered its reported beef export sales for late-June on Thursday, sparking fresh concerns about the quality of the agency's data after staffing losses amid the Trump administration's reshaping of the federal government.
USDA said exporters sold a net 12,064 metric tons of US beef to foreign buyers, 90% lower than the volume it originally reported a week ago.
Meanwhile, hopes for increased demand have supported pork prices.
CME's benchmark August lean hog futures settled 1.50 cents lower at 98.15 cents per pound.
The US Department of Agriculture reported the pork carcass cutout value at $98.90, up 74 cents from the previous day.
Warming temperatures expected in the US Midwest and Plains into mid-July could lower hog weights, potentially tightening meat supplies.
