Live cattle futures on the Chicago Mercantile Exchange settled mixed Friday as traders adjusted positions ahead of the weekend and the release of a USDA cattle on feed report after market hours.
CME October live cattle futures closed 0.075 cent lower at 217.925 cents per pound, while September feeder cattle futures rose 0.10 cent to 329.025 cents per pound. Futures initially declined following President Donald Trump’s announcement of plans to temporarily reduce U.S. beef tariffs, though prices later recovered during the session.
The White House said Trump will sign an executive order within two weeks to expand the volume of ground beef eligible for lower import tariffs by 300,000 metric tons for a period of 90 days. The measure aims to lower consumer prices but drew criticism from U.S. cattle producers, who warned it could undermine herd rebuilding efforts. Economists, however, suggested the tariff reduction would likely have a limited impact on prices.
Boxed beef prices fell alongside futures, with USDA choice cuts priced at $385.69 per hundredweight, down $4.24 from the previous day. Select cuts declined $2.42 to $361.32 per hundredweight. The weaker cash market added pressure to live cattle futures during the session.
