Live Cattle and Lean Hog futures slipped on minor pressure

Livestock futures experienced downward pressure on Tuesday, with both Live Cattle and Lean Hog futures closing lower. The front-month August Live Cattle contract dropped 67 cents to finish at 238.42, marking its lowest settlement in nearly a month. While August Feeder Cattle futures managed a modest 15-cent gain, deferred contracts faced increasing losses. In the lean hog market, August futures bore the brunt of the selling pressure, while the October contract declined 92 cents to settle at 81.65. Meanwhile, the wholesale boxed beef market showed firmness, with Choice cuts rising $1.30 and Select cuts gaining $4.49. Additionally, CME Group announced the upcoming launch of new 90% and 50% Lean Beef Trim futures and options, scheduled to begin trading on July 20, which will provide market participants with new risk management tools for retail ground beef blend ratios.