# Live cattle futures high all-time high on tight supply - CME
						 | The Cattle Site

> CME live cattle futures hit an all-time high for a front-month contract on Wednesday as meatpackers bid up livestock amid tightening supplies. April live cattle closed at 174.275 cents per pound, and choice boxed beef rose $3.38 to $298.48 per hundredweight. Ranchers have reduced herds due to high feed costs and western US drought.

- Date: 2023-04-12 · published 2023-04-12T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/8667-live-cattle-futures-high-all-time-high-on-tight-supply-cme-the-cattle-site
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Shrinking herds mean packers must pay up for fewer animals, keeping cattle and beef prices elevated. Feeder buyers face higher replacement and feeding costs.

## Read by commodity

- LCATTLE: bullish ▲

## Sources

- thecattlesite.com: https://www.thecattlesite.com/news/live-cattle-futures-high-all-time-high-on-tight-supply-cme

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