Cattle futures fall for seventh straight session - CME
Hog futures sag as weak demand and heavy hogs weigh
8 July 2026
1 minute read
By: Lean hog futures sagged on the Chicago Mercantile Exchange (CME) on Tuesday as lacklustre domestic demand for US pork hung over the market, Reuters reported, citing analysts.
Summer is the peak season for grilling and making bacon, lettuce and tomato (BLT) sandwiches, though demand has not been strong enough to rally futures or cash prices.
CME August lean hogs fell 1.6 cents to close at 96.925 cents per pound. The contract has advanced 3% since dropping last month to a November low, but remains down about 14% from a high reached in March.
"We've rebounded some, but we're still not putting together a big run," said Matt Wiegand, commodity broker for FuturesOne.
Heavier weights for hogs helped keep a lid on prices, Wiegand said, as weak grain prices have encouraged farmers to raise bigger animals.
As of June 27, average hog weights reached 286.9 pounds, up from 286.1 pounds a week earlier and 284.1 pounds a year ago, according to US Department of Agriculture data.
The USDA separately priced the hog carcass cutout at $97.91 per cwt on Tuesday, up $1.66 from Monday.
Farmers and traders monitored US weather to assess whether rising temperatures may hurt crop production and raise prices of corn and soybeans used as livestock feed. Forecasts predicting heat in the corn belt this month pushed corn and soybean futures to one-month highs.
For cattle, traders kept an eye on cash prices after processing plants closed on Friday in observance of the Independence Day holiday on July 4. The closures reduced cattle slaughtering last week, constraining cash prices, traders said.
CME August live cattle futures ended down 0.675 cent at 238.425 cents per pound on Tuesday. The contract has declined for seven straight sessions.
August feeder cattle crept slightly higher after falling for six consecutive sessions, rising 0.15 cent to end at 360.650 cents per pound. Deferred contracts slipped.
