Hog prices surge after a two-week high, while beef futures stabilize as market sentiment cools. October 16, 2025. A quick read. The Chicago Mercantile Exchange (CME) cattle futures market ended with mixed results on Wednesday, as tight supply and higher choice beef values supported the market, but profit-taking and technical selling limited gains, according to Reuters (https://www.reuters.com/).
Live and feeder cattle futures hit contract highs in the previous session after nearly two consecutive weeks of daily gains. However, these gains pushed the futures into overbought territory. Meanwhile, news of a US-Brazil presidential conversation about US tariffs on Brazilian goods on Thursday also dampened buying interest on Wednesday.
Rich Nelson, chief strategist at Allendale Inc., commented, 'Brazil supplies us with 2.6% of our beef consumption. So I think that's maybe a small stumbling block for today on the cattle side.'
CME December live cattle prices rose 0.275 cents to end at 246.775 cents per pound, while November feeder cattle settled 0.650 cents lower at 380.675 cents per pound.
Wholesale beef prices have retreated from their historic highs in the previous month, but prices for choice and select cuts remain elevated.
The choice boxed beef cutout rose $2.06 on Wednesday afternoon to $366.48 per hundredweight, a two-week high, according to the US Department of Agriculture.
The select cutout was at $349.16 per cwt, down $1.39 from the previous day's two-week peak.
Beef packer margins remained in the red, with estimated losses of $197.95 per head on Wednesday, compared to losses of $175.50 per head a week ago, according to HedgersEdge.
CME lean hog futures closed higher on Wednesday, experiencing a short-covering and technical rebound after recent losses. December hogs ended 0.450 cents higher at 83.600 cents per pound, rising for just the third time in the past 13 sessions.
