Chicago cattle futures rebounded on Wednesday after dropping on Tuesday over news the U.S. Department of Agriculture would gradually reopen borders to Mexican cattle imports.
Chicago Mercantile Exchange cattle futures ended higher on Friday under support from stronger wholesale boxed beef prices and buying interest, though concerns over waning consumer demand for beef continued to linger over the market, analysts said.
Chicago lean hog contracts dipped as a U.S. Department of Agriculture report showed inventories slightly up. Cattle futures were unchanged to slightly up.
Chicago Mercantile Exchange cattle futures ended mixed on Wednesday as market players weighed waning demand from consumers and retailers while hog futures turned higher, following a seasonal pattern, traders said.
Chicago Mercantile Exchange lean hog futures edged lower on Tuesday on technical selling after setting contract highs in the previous session as traders weighed whether a seasonal peak in cash hog prices has petered out, analysts said.