Lean Hog Futures Hit Contract Low on Shifting Consumer Demand

Livestock futures traded lower on Wednesday, pressured by expectations of higher beef output in 2027 and shifting consumer demand. Live Cattle futures surrendered Friday's gains, with the December contract falling $1.42 to $224.95, while Feeder Cattle futures drifted lower in sideways trade amid plentiful packer inventory. Lean Hog futures broke to new contract lows as pork cutout values declined. The December contract dropped $2.02 to settle at $66.00, pressured by consumers shifting to chicken over high-priced beef. While money managers covered some short positions, they remain net short in the hog market.