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Pork prices in the US increase, beef prices decrease
According to Reuters, live cattle futures on the Chicago Mercantile Exchange (CME) – US on October 21, 2024 fell after last week’s increase. Meanwhile, canned beef prices remained high amid good consumer demand, a solid economic outlook and pre-Thanksgiving and Christmas buying and selling activities. Tight cattle supplies and rising spot prices also continued to support futures trading, analysts said. Rising wholesale prices also boosted futures prices. Boxed prime beef prices rose $2.21 per cwt to $322.86 per cwt on the afternoon of October 21, 2024, according to the USDA. Boxed select beef prices rose $2.01 per cwt to $296.21..