US hogs hit new lows - CME

Apr 17, 2023

Chicago Mercantile Exchange (CME) live cattle futures firmed on Wednesday on expectations for higher US cash prices this week, as lean hog futures set contract lows, Reuters reported, citing analysts.

Cash cattle were bid at about $168 per cwt in the southern Plains, roughly $1 higher than the bulk of trading last week, said Dennis Smith, commodity broker for Archer Financial Services. Meatpackers will need to pay more to strike deals, he said.

"If they want the cattle, they're going to have to bid higher than $168," Smith said, adding that prices may rise to $170 per cwt.

Meat processors slaughtered an estimated 123,000 cattle on Wednesday, down from 127,000 cattle a week ago and 124,000 cattle last year, the US Department of Agriculture (USDA) said.

The agency reported boxed beef prices rose, while HedgersEdge.com said processors' margins climbed to $80.15 per head of cattle from $59.15 per head on Tuesday and $52.45 per head a week ago.

April live cattle finished 0.800 cent stronger at 168.400 cents per pound, and June live cattle ended up 0.075 cent at 160.300 cents per pound.

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Video: 2026 T.K. Cheung Lecture in Animal Science - Dan Weary

T.K. Cheung Lecture in Animal Science: "Using science to assess and improve the welfare of dairy cattle"

Dan Weary is a Professor at the University of British Columbia. Dan did his BSc and MSc at McGill and Doctorate at Oxford before co-founding UBC’s Animal Welfare Program where he now co-directs this active research group. His research focuses on understanding the perspectives of animals and applying these insights to develop methods of assessing animal welfare and improving the lives of animals. His work has helped drive changes in practices (including the adoption of higher milk rations for calves and pain management for disbudding) and housing methods (including the adoption of social housing for pre-weaned calves). He also studies cow comfort and lameness, social interactions among cows, and interactions between cows, human handlers and technologies like automated millking systems that are increasingly used on farms. His presentation will outline key questions in cattle welfare, highlight recent UBC research addressing them, and showcase innovative methods for improving the lives of cattle and their caretakers.