Cattle Futures Tumble Amid Economic Concerns

Cattle futures at the Chicago Mercantile Exchange (CME) have plummeted to their lowest levels in nearly eight months, indicating a slowdown in beef sales and leaving more in cold storage. Lean hog futures also reached their lowest point in about four weeks, with concerns about easing demand for U.S. beef and a bigger sow herd in China. Feeder cattle and live cattle futures have been mixed, with the U.S. Department of Agriculture (USDA) expected to publish bearish data in its monthly Cattle on Feed report.