# U.S. livestock: CME live cattle hit three-month high - Country Guide

> CME live cattle futures reached their highest level in nearly three months on Thursday, driven by short-covering and optimism for cash prices. Packers bid $111 per cwt against $116 asking prices, and feeder cattle futures also rose. Fewer cattle for sale and strong packer margins were cited as supportive.

- Date: 2017-10-26 · published 2017-10-26T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/5329-u-s-livestock-cme-live-cattle-hit-three-month-high-country-guide
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

Tighter cattle supplies and strong packer margins support higher cash and feeder prices, which raises the cost of feeder cattle for feedlot buyers.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| LCATTLE | 2017-10-30 | 1 | +4.6% | 6.8 | Short-covering and optimism about cash prices lifted futures to a three-month high, which started the rally that led into the move. |

## Sources

- country-guide.ca: https://www.country-guide.ca/daily/u-s-livestock-cme-live-cattle-hit-three-month-high/

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