# CME update: live cattle futures close lower despite market optimism
						 | The Cattle Site

> US live cattle futures closed lower on 1 June even though cash cattle traded at a premium to nearby futures. Feeder cattle futures rose that day, and the USDA reported southern Plains cash at $118.

- Date: 2020-06-01 · published 2020-06-01T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/52746-cme-update-live-cattle-futures-close-lower-despite-market-optimism-the-cattle
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

Cash premium to futures and a packer backlog of market-ready cattle point to downward pressure on live cattle futures as the gap converges.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bearish ▼

## Sources

- thecattlesite.com: https://www.thecattlesite.com/news/55389/cme-update-live-cattle-futures-close-lower-despite-market-optimism

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