# CME update: live cattle futures skyrocket on COVID-19 vaccine hopes
						 | The Cattle Site

> US live cattle futures hit a four-week high on 9 November and feeder cattle reached their highest in over five weeks after reports of a COVID-19 vaccine. Pfizer said its vaccine was over 90 percent effective in a large trial, lifting broader markets. Traders also awaited a USDA supply and demand report.

- Date: 2020-11-10 · published 2020-11-10T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/7932-cme-update-live-cattle-futures-skyrocket-on-covid-19-vaccine-hopes-the-cattle
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Vaccine-driven optimism about economic recovery and beef demand lifted cattle prices, while expected USDA cuts to corn and soy estimates point to firmer feed costs for feedlots.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Sources

- thecattlesite.com: https://www.thecattlesite.com/news/56109/cme-update-live-cattle-futures-skyrocket-on-covid-19-vaccine-hopes

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