Cattle futures drop as US reopens to Mexican imports - CME
Hog prices slip on profit taking, seasonal market decline
2 July 2025
2 minute read
By: Chicago Mercantile Exchange (CME) cattle futures fell on Tuesday, led by sharp declines in feeder cattle values after the US Department of Agriculture (USDA) announced a gradual restart of Mexican livestock imports following a prolonged closure over the damaging pest screwworm, Reuters reported, citing analysts.
The phased resumption of imports would help bolster supplies that have significantly tightened since the United States shut off shipments from south of the border on May 11.
"It's going to be a slow open over the next few months. They'll start to open up different ports of entry as long as they feel like they've got at least a handle on the screwworm issue. That put the pressure on things overall," said Dax Wedemeyer, analyst with Iowa-based US Commodities.
Signs that beef prices may be topping out after climbing recently to levels not seen since the COVID-19 pandemic also weighed on futures.
The choice boxed beef cutout was up just 4 cents on Tuesday afternoon at $395.60 per cwt while the select cutout fell $4.04 to $380.06 per cwt, according to the US Department of Agriculture.
CME August live cattle ended 3.125 cents lower at 210.750 cents per pound and August feeder cattle futures finished the day down 4.650 cents at 306.025 cents per pound.
CME lean hog futures were mostly lower on Tuesday, pressured by profit taking and long liquidation by funds as cash hog and pork markets were poised for a seasonal decline following recent gains.
The actively traded August hog contract ended down 0.550 cent at 106.950 cents per pound after sinking to its lowest point since June 4.
Cash pork values continued to soften on Tuesday, with sharp declines in prices for loins, bellies, butts and ribs. The USDA quoted Tuesday's pork carcass cutout at $112.30 per cwt, down $3.07 from Monday and $10.81 from a nearly three-year high posted last week.
