August lean hog futures settle down - CME

Jul 08, 2024

Chicago Mercantile Exchange (CME) live and feeder cattle futures fell on Monday on expectations for a seasonal dip in demand for livestock from meatpackers, Reuters reported, citing traders.

Packers slaughtered an estimated 115,000 cattle, down from 119,000 on Friday and unchanged from a week ago, according to US government data.

"As you get closer to the fourth (of July), demand usually tapers off," said Don Roose, president of US Commodities.

Cargill, one the four major US beef processors, said it suspended production at a beef plant in Dodge City, Kansas, after weekend rains caused part of the roof to collapse.

A prolonged closure could threaten demand for cattle for slaughtering, though it would use its broad supply chain to minimize disruptions to customers and producers if necessary, Cargill said.

CME August live cattle settled 1.15 cents lower at 184.275 cents per pound. CME August feeder cattle ended down 1.925 cents to 257.375 cents per pound.

Wholesale boxed beef prices firmed in the US Department of Agriculture's afternoon cutout report. Choice cuts were up $2.86 at $329.18 per hundredweight (cwt), while select cuts rose $1.91 to $306.41 per cwt.

"Consumers continue to buy expensive beef," Roose said. "They're buying beef at the expense of pork."

The USDA reported lower pork cutout values. Carcasses were priced at $95.41 per cwt, down $2.48, while bellies slid $6.41.

CME August lean hog futures settled down 1.325 cents to 88.175 cents per pound.

Source : The Pigsite

Video: Inside the National Swine Health Strategy - Dr. Dustin Oedekoven

In this episode of The Swine it Podcast Show, Dr. Dustin Oedekoven, Chief Veterinarian at the National Pork Board, explains the producer-led National Swine Health Strategy and why it is essential for improving U.S. swine health. He discussed industry collaboration, the strategy's initial priorities, why PEDV is the first focus for elimination, research initiatives, and the long-term vision for healthier herds. Listen now on all major platforms.

"The National Swine Health Strategy creates a coordinated approach that moves the entire industry toward common health goals."

Meet the guest: Dr. Dustin Oedekoven / dusty-oedekoven-bb0bb7110 is Chief Veterinarian at the National Pork Board, where he leads initiatives to strengthen U.S. swine health through disease prevention, producer collaboration, and the National Swine Health Strategy. With more than 20 years of experience in veterinary public health and regulatory animal health, his work focuses on protecting the U.S. herd from endemic and foreign animal diseases. Listen to Dr. Dustin Oedekoven on The Swine it Podcast Show, available on all major platforms.