# Live cattle futures ease after contract highs; hogs retreat | Financial Post

> CME live cattle futures closed lower on Wednesday as traders took profits, a day after the April contract hit a life-of-contract high. The USDA had reported that the January 1 U.S. cattle herd was down 3% from a year earlier, with the beef cow herd at 28.9 million head, its lowest since 1962. Lean hog futures also settled lower.

- Date: 2023-02-02 · published 2023-02-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/37481-live-cattle-futures-ease-after-contract-highs-hogs-retreat-financial-post
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Futures retreated from highs on profit-taking, but the shrinking herd keeps feeder and live cattle supported. Tight supplies point to firm cattle prices and higher beef costs for buyers.

## Read by commodity

- HOGS: bearish ▼
- FCATTLE: neutral
- LCATTLE: neutral

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/live-cattle-futures-ease-after-contract-highs-hogs-retreat

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