# Market Wrap-up: Thursday, Jan. 2 | Western Livestock Journal

> CME cattle futures rose to life-of-contract highs on January 2 as live and feeder contracts gained triple digits. Cash trade was moderate at 7,849 head, with live steers at $195 to $199.50 and dressed steers at $310 to $315. Packers were reported to be short of inventory and needed to restock.

- Date: 2024-12-31 · published 2024-12-31T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/26653-market-wrap-up-thursday-jan-2-western-livestock-journal
- Commodities: [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Packers' need to buy cattle to replenish inventory supports cash prices, which pulls futures higher. Tight cattle supply keeps the market firm.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| LCATTLE | 2025-01-06 | 1 | +1.4% | 3.1 | Record life-of-contract highs on Jan 2 with tight packer inventories and strong cash trade built the bullish momentum that carried into the Jan 6 gain. |

## Sources

- wlj.net: https://www.wlj.net/market-wrap-up-thursday-jan-2/
- wlj.net: https://www.wlj.net/market-wrap-up-tuesday-dec-31/

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