# US cattle futures sag - CME
						 | The Cattle Site

> Lean hog futures fell to their lowest in about four weeks on Wednesday November 22, 2023, dropping about 8% since November 7 as ample US supplies weighed. USDA data showed pork cutout down $0.53 and frozen pork belly stocks down sharply year over year, while select boxed beef eased and choice rose. February live cattle settled at 175.275 cents per pound.

- Date: 2023-11-23 · published 2023-11-23T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/7971-us-cattle-futures-sag-cme-the-cattle-site
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Heavy hog supplies and lower hog futures reduce the cost of pork-based feed ingredients and signal weaker hog prices for producers. Mixed beef cutout and pre-holiday positioning add uncertainty to cattle values.

## Read by commodity

- HOGS: bearish ▼
- LCATTLE: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2020-06-18 | [CME update: cattle futures mixed as traders await USDA report
						 \| The Beef Site](https://feedsoft.ai/events/52752-cme-update-cattle-futures-mixed-as-traders-await-usda-report-the-beef-site.md) | -5.8% | +1.7% |
| HOGS | 2020-11-11 | [CME update: lean hog futures weaken as corn prices surge
						 \| The Pig Site](https://feedsoft.ai/events/50300-cme-update-lean-hog-futures-weaken-as-corn-prices-surge-the-pig-site.md) | -0.6% | -3.0% |
| HOGS | 2020-11-13 | [Pig outlook: Lean hog futures starting to trend down
						 \| The Pig Site](https://feedsoft.ai/events/50298-pig-outlook-lean-hog-futures-starting-to-trend-down-the-pig-site.md) | -2.9% | -3.8% |
| HOGS | 2020-02-12 | [Cattle, hog futures lower following USDA report - Brownfield Ag News](https://feedsoft.ai/events/54713-cattle-hog-futures-lower-following-usda-report-brownfield-ag-news.md) | +7.1% | +8.7% |
| HOGS | 2020-06-29 | [CME update: hog futures dive on economic concerns and larger-than-anticipated supply
						 \| The Pig Site](https://feedsoft.ai/events/52768-cme-update-hog-futures-dive-on-economic-concerns-and-larger-than-anticipated.md) | -0.0% | +13.0% |
| LCATTLE | 2023-10-25 | [Live cattle futures continue to fall - CME
						 \| The Cattle Site](https://feedsoft.ai/events/10310-live-cattle-futures-continue-to-fall-cme-the-cattle-site.md) | +0.5% | -3.6% |
| LCATTLE | 2017-07-26 | [Fund-selling extends CME live cattle futures losses](https://feedsoft.ai/events/70102-fund-selling-extends-cme-live-cattle-futures-losses.md) | -1.1% | -6.9% |
| LCATTLE | 2023-06-27 | [Live cattle weaken on slowing demand - CME
						 \| The Beef Site](https://feedsoft.ai/events/35614-live-cattle-weaken-on-slowing-demand-cme-the-beef-site.md) | -0.6% | +1.2% |

## Sources

- thecattlesite.com: https://www.thecattlesite.com/news/us-cattle-futures-sag-cme

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