CME livestock contracts dip amid broader agricultural sell-off
By P.J. Huffstutter
CHICAGO, Dec 15 (Reuters) - Chicago Mercantile Exchange (CME) livestock contracts dipped on Monday, as investors shrugged off strength in wholesale beef prices and the cash cattle markets amid a broad sell-off in agricultural futures, traders said.
Meanwhile, lean hog futures faced pressure on news that Mexico has opened an anti-dumping and anti-subsidy probe into U.S. pork leg and shoulder imports after domestic producers alleged unfair pricing and government support.
The investigation will examine 2024 imports and their impact on Mexico's pork industry from 2022 to 2024, Mexico's Economy Ministry said in a publication in Mexico's government bulletin.
CME benchmark February lean hog futures LHG26 settled down 0.675 cent at 83.850 cents per pound.
CME February live cattle LCG26 settled 1 cent higher at 230.550 cents per pound. CME January feeder cattle FCF26 ended 0.825 cents higher at 339.925 cents per pound.
Feeder cattle auctions saw prices rise last week. And cash cattle traded in Kansas, Texas and Nebraska at $230 per hundredweight (cwt), traders said, up about $5 from last week.
Tight U.S. cattle inventories continue to provide support for the cash markets, and support for the cattle complex overall, said Karl Setzer, partner at Consus Ag, said in an analyst note.
A rebound in weekly beef and pork export sales was supportive - particularly for cattle, analysts said. For the week ending November 20, beef sales totaled 17,200 metric tons for 2025, while pork sales were 44,900 metric tons for this year, according to USDA data.
Wholesale beef prices firmed. The U.S. Department of Agriculture on Monday morning priced choice cuts of beef at $358.64 per hundredweight (cwt), up $1.20 from a day earlier. Select cuts rose $2.49 to $346.71 per cwt. LIV/H
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