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Live Cattle futures traded steady as falling cash prices and boxed beef values offset bullish fundamentals, with the December contract down $5.82 to $227.95. Feeder Cattle rebounded, with the January contract up $2.90 to $334.67 on expectations of tighter supplies.
Lean Hog futures traded sideways for a fourth session despite a $41 million USDA purchase, while money managers pushed net short positions in lean hogs to a record of over 51,000 contracts.
Lower cash cattle and boxed beef prices weigh on the near-term complex, while tighter feeder supplies support feeder cattle values that feed directly into feedlot costs. A record speculative short in hogs signals bearish sentiment that could cap hog prices unless the USDA purchase or supply tightening shifts the balance.
squawknews.comSquawkNews DeskNov 2, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
