# Runaway Packer Spending Spurs Cattle Futures Sharply Higher at Midday

> Cattle futures rose sharply at midday, with spot June and August live cattle locked at the 300-point limit. Packers bid up cash cattle to around $145-146 in the South, and beef cutouts climbed to $231.91 for choice.

- Date: 2017-05-03 · published 2017-05-03T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/7073-runaway-packer-spending-spurs-cattle-futures-sharply-higher-at-midday
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

Aggressive packer buying and rising cutouts lift cash and futures cattle prices, which raises feedlot costs for buyers of feed and feeder cattle.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2017/05/03/runaway-packer-spending-spurs-cattle

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