Live cattle futures consolidate near all-time highs - CME
Hog futures fall for third straight session as cash gap widens
10 April 2026
1 minute read
By: Live cattle futures on the Chicago Mercantile Exchange (CME) ended higher on Thursday, consolidating near historic peaks as market players waited for cash trade to develop in the Plains amid tight cattle supplies, Reuters reported, citing analysts.
Cash prices for slaughter-ready cattle rose sharply last week, and some analysts expect steady to higher cash trades this week, citing strong beef packer margins in late March as well as expectations for a seasonal upswing in beef demand as grilling season approaches.
"The cash tone looks very firm... Technically, everything looks very strong. Supplies (of cattle) are tight," said Doug Houghton, analyst for Brock Associates.
Most-active CME June live cattle settled up 1.275 cents at 247.200 cents per pound. The thinly traded April contract reached 249.950 cents, an all-time high on a continuous chart of the front live cattle contract, before settling at 249.775 cents.
CME May feeder cattle futures rose 2.425 cents to close at 370.425 cents per pound, supported by strength in live cattle as well as a retreat in corn futures that signalled cheaper feed costs, Houghton said.
Wholesale beef prices stabilized after sliding to a one-month low by mid-week. The US Department of Agriculture reported choice beef cuts at $381.09 per cwt on Thursday afternoon, up $1.43 from Wednesday.
Hog futures closed lower for a third straight session on technical selling and ideas that futures were overpriced relative to the cash market.
Benchmark CME June lean hog futures settled down 0.525 cent at 104.125 cents per pound, while the CME's Lean Hog Index, a two-day weighted average of cash prices, was last quoted at 90.30 cents.
"The premium to cash has been looking a bit wide lately," Houghton said.
The USDA quoted the wholesale pork carcass cutout at $97.38 per hundredweight late on Thursday, up 47 cents from Wednesday.
In its weekly export sales report, the USDA pegged net sales of US pork in the week ended April 2 at 31,300 metric tons, down 41% from the previous week and 14% from the prior four-week average.
