# Tight US supply drives CME live cattle futures to new highs

> CME live cattle futures hit new contract highs on Sept 14, with October up 2.325 cents to 185.475 cents per pound and December reaching 190.550 cents. Brokers attributed the rally to short-covering and tight US supplies, with the US beef cow herd at its lowest since 1962 after drought.

- Date: 2023-09-14 · published 2023-09-14T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/34241-tight-us-supply-drives-cme-live-cattle-futures-to-new-highs
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

Tight cattle supplies and reduced packer margins support higher live cattle prices, while seasonal softness in wholesale beef limits the upside for feeder and fed cattle values.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/article/business/tight-us-supply-drives-cme-live-cattle-futures-to-new-highs-idUSL1N3AQ3EL/

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