CME live cattle futures hold flat ahead of USDA feedlot report
CME live cattle futures held flat ahead of the USDA Cattle on Feed report, while lean hogs hit a contract low and beef packer margins widened.
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what happened
Live cattle futures on the Chicago Mercantile Exchange were roughly unchanged on Thursday, while feeder cattle slipped, Reuters reported. Traders were waiting for the USDA's Cattle on Feed report due Friday. December live cattle closed flat at 231.125 cents per pound, and November feeder contracts fell 2.720 cents to 346.10 cents.
Lean hogs weakened for a second straight session amid seasonal softness in demand. December contracts ended 0.175 cent lower at 65.55 cents per pound, after touching a contract low of 65.05 cents earlier in the day.
Wholesale choice-grade boxed beef dropped $3.12 by midday to $369.47 per hundredweight, and select cuts lost $4.93 to $350.41. Packer margins widened, with the average estimated at $32.15 per head on Wednesday versus $50.15 a day earlier, according to HedgersEdge.
why it matters
A Reuters poll of analysts expected cattle on feed inventory to be nearly flat from a year earlier as of October 1, with placements at about 100.3% of last year's level. StoneX said a firmer cash market supported prices. The report gives a read on meat supply and processors' costs, which eventually feed into retail beef and pork prices.
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- CME live cattle futures trade flat ahead of USDA report — Reuters, 22 October 2026 at 22:59 UTC
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