# U.S. livestock: CME live cattle set contract high as cash prices jump - Grainews

> CME live cattle futures set a contract high as cash trades in Nebraska and Iowa reached $170 to $172 per cwt, up about $5 on the week and new 2023 highs. Analysts attributed the tight fed cattle supply to herd reductions from drought and high feed costs. USDA estimated 126,000 cattle slaughtered and feeder cattle also rose.

- Date: 2023-03-30 · published 2023-03-30T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/10373-u-s-livestock-cme-live-cattle-set-contract-high-as-cash-prices-jump-grainews
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

Drought-driven herd liquidation is shrinking the supply of market-ready cattle, which supports higher fed and feeder cattle prices and raises beef processor costs.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| FCATTLE | 2023-03-30 | 1 | +4.4% | 6.4 | On the move date, CME live cattle hit a contract high as cash trade jumped $5 on tight fed cattle supply, and feeder cattle rose in sympathy, which directly supports the sharp one-day feeder rally. |
| FCATTLE | 2023-03-30 | 5 | +5.9% | 3.3 | Live cattle hit a contract high on jumping cash trade and tight fed supplies, which pulled feeder futures higher through derived demand. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2020-01-08 | [Cattle prices forecast to jump when drought breaks as farmers forced to sell breeding stock - ABC News](https://feedsoft.ai/events/55034-cattle-prices-forecast-to-jump-when-drought-breaks-as-farmers-forced-to-sell.md) | +0.2% | -2.8% |
| LCATTLE | 2023-08-27 | [Live cattle gain as heat impacts producers - CME
						 \| The Beef Site](https://feedsoft.ai/events/34714-live-cattle-gain-as-heat-impacts-producers-cme-the-beef-site.md) | -0.8% | +1.5% |
| LCATTLE | 2025-10-30 | [The source of high cattle and beef prices](https://feedsoft.ai/events/22522-the-source-of-high-cattle-and-beef-prices.md) | -3.8% | -8.7% |
| LCATTLE | 2022-07-27 | [Shrinking cattle herd could equal high calf, beef prices](https://feedsoft.ai/events/40435-shrinking-cattle-herd-could-equal-high-calf-beef-prices.md) | -0.6% | +3.8% |
| LCATTLE | 2022-07-15 | [Pete's Comments: Feeder cattle on a roll \| Western Livestock Journal](https://feedsoft.ai/events/40621-pete-s-comments-feeder-cattle-on-a-roll-western-livestock-journal.md) | -0.7% | +0.7% |
| FCATTLE | 2023-08-27 | [Live cattle gain as heat impacts producers - CME
						 \| The Beef Site](https://feedsoft.ai/events/34714-live-cattle-gain-as-heat-impacts-producers-cme-the-beef-site.md) | +1.7% | +2.5% |
| FCATTLE | 2023-03-27 | [Spring Moisture Drives Feeder Cattle Contracts Higher](https://feedsoft.ai/events/5596-spring-moisture-drives-feeder-cattle-contracts-higher.md) | +5.9% | +6.8% |
| FCATTLE | 2025-10-30 | [The source of high cattle and beef prices](https://feedsoft.ai/events/22522-the-source-of-high-cattle-and-beef-prices.md) | -6.4% | -9.4% |

## Sources

- grainews.ca: https://www.grainews.ca/daily/u-s-livestock-cme-live-cattle-set-contract-high-as-cash-prices-jump/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.