Cattle futures hit multi-week lows on fund selling - CME
Hogs rise on seasonal strength and technical buying
22 April 2026
1 minute read
By: US live cattle futures dropped to a 2-1/2-week low on Tuesday on fund long liquidation and technical selling amid concerns that cash market prices have reached a recent peak and as beef packer margins slumped, Reuters reported, citing analysts.
Feeder cattle futures fell to a 3-1/2-week low in a fifth straight session of declines.
Managed funds have built on a sizable net long position in cattle in recent weeks, pushing prices to near historic highs. However, that has left the market vulnerable to profit-taking corrections.
"In cattle, to some extent, it's a technical move. Speculators have been unwinding some long positions here since last week. But you also have ideas that the cash market may have topped out for now," said Doug Houghton, analyst with Brock Capital Management.
CME June live cattle futures ended down 2.525 cents at 243.550 cents per pound after breaking through technical chart support at its 20-day moving average and hitting the lowest point since April 3. May feeder cattle reached their lowest level since March 27 and settled down 2.550 cents at 358.550 cents per pound.
Cash cattle trading remained slow, but early-week packer bids suggest prices could fall by $1 to $2 per hundredweight this week.
Beef packer margins improved slightly after a jump in wholesale beef prices, but remained deeply in the red. The average margin was estimated at a negative $194.55 per head on Tuesday, up from a negative $227.05 to start the week but down from a positive $74.85 just three weeks ago, according to livestock marketing advisory service HedgersEdge.
Lean hog futures rose for a second straight session on Tuesday, supported by seasonal cash market strength and technical buying following the market's recent decline to four-month lows.
Benchmark June lean hogs ended 1.475 cents higher at 103.200 cents per pound.
