Cattle futures climb on strong beef demand, market momentum - CME
Hog futures climb ahead of grilling season demand
15 April 2025
2 minute read
By: Chicago Mercantile Exchange (CME) live cattle futures rose on Monday, extending the rally from the previous session, on strong wholesale beef prices and a higher close on Wall Street that lifted optimism about consumer demand for meat, Reuters reported, citing traders.
CME June live cattle futures settled up 2.275 cents to end at 199.075 cents per pound and May feeder cattle futures ended 2.250 cents higher at 280.950 cents per pound.
In the beef market, choice cuts of boxed beef rose $1.41 to $335.63 per hundredweight (cwt) and select cuts rose $1.89 to $315.85 per cwt on Monday afternoon, according to data from the US Department of Agriculture.
"The boxed beef showed a little bit of stability," said independent trader Dan Norcini, adding that strength in equity markets lent support to cattle futures as well.
"It has taken some of the fear factor out, when the stock market is not imploding."
A seasonal uptick in demand for meat likely added to bullish sentiment, Norcini said, noting that retailers will soon need to stock their meat cases with supplies for Mothers Day, Memorial Day and summertime grilling.
Short-covering may have lent support as well. Open interest in June live cattle futures LCM25 declined on Friday as futures rose, an indication that traders were exiting short positions.
CME hog futures also closed higher on Monday on demand optimism.
CME June lean hog futures settled up 1.800 cents at 95.125 cents per pound.
The USDA priced pork carcasses at $92.78 per cwt, up 82 cents from Friday.
Traders shrugged off pressure from softer hog prices. The CME's Lean Hog Index, a two-day weighted average of cash prices, was down 0.81 cent at 86.86 cents per pound.
