Cattle Sharply Lower; Hogs Sharply Higher

Tuesday's USDA Cattle slaughter was 114,000 head versus a year ago at 116,000 head. Live Cattle future traded choppy and weak, erasing Monday's gains. August Live Cattle was trading 147.85, down 1.82 and October Cattle was trading at 150.77, down 1.52. Tuesday's USDA Hog slaughter was 425,000 head versus a year ago at 412,000 head. Front month Lean Hog Futures moved sharply higher; at one point, August hogs traded up the daily limit of 3.00 before selling came in and prices set back near the end of the session. The rest of the months were moderately higher. Trading was very choppy. August Lean hog futures were trading at 73.92, up 2.15 and October Hogs were trading at 65.42, up 0.77.