CME cattle futures higher on year-end positioning
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CME cattle and hog futures rose on Tuesday due to position squaring ahead of the New Year holidays. February live cattle settled 1.500 cents higher at 230.475 cents per pound, while March feeder cattle increased by 2.900 cents to 344.575 cents per pound. Lean hog futures also saw a rise of 0.975 cent to 85.450 cents per pound. Analysts noted that the increases were largely due to light trading activity during the holiday period, with packers working quickly before the New Year. USDA reported a decline in pork belly prices and boxed beef cuts.
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