Hog futures fall back after contract highs, winter weather in focus

Meanwhile, extreme cold and snow storms in the U.S. impacted all livestock futures, slowing processing operations and creating harsh conditions for animals raised outdoors, according to brokers.

In a press release on Wednesday, the Texas Department of Agriculture said it had activated relief efforts to assist producers, ranchers and agribusinesses affected by the winter storm.

Weather conditions in Texas have caused "extensive agricultural damage, including barn collapses, fencing failures, feed losses, and other critical infrastructure impacts," the agency said in a statement.

Consultancy StoneX said there had been "no real activity" in cash markets this week, and cash feeders have also been weather-impacted with many southern sales canceled.

CME February live cattle LCG26 finished 1.325 cents higher at 238.725 cents per pound, while March feeder cattle futures FCH26 rose 3.850 cents to 362.000 cents per pound.

CME April lean hogs LHJ26 ended down 1.675 cents at 95.150 cents per pound.

Meatpackers slaughtered an estimated 493,000 hogs on Wednesday, up from 487,000 hogs a week ago, according to the U.S. Department of Agriculture. They slaughtered an estimated 112,000 cattle, down from 114,000 cattle a week earlier, the agency said.

The USDA priced choice boxed beef at $369.94 per hundredweight (cwt), up $1.63 from yesterday, and select boxed beef at $363.57 per cwt, down $1.62 from yesterday.

The USDA priced pork carcasses on Wednesday afternoon at $95.05 per cwt, down $0.64 from yesterday.

On Friday, the USDA is slated to issue a biannual update on U.S. cattle inventories.