# U.S. livestock: Sizzling cash cattle prices ignite rally in CME futures - Grainews

> CME live cattle futures reached contract highs as cash cattle prices surged, with Nebraska cattle trading at $177-$178 per hundredweight. April live cattle closed at 171.075 cents per pound and June at 163.1 cents. Choice boxed beef rose $1.03 to $289.65 per hundredweight.

- Date: 2023-04-06 · published 2023-04-06T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/8672-u-s-livestock-sizzling-cash-cattle-prices-ignite-rally-in-cme-futures-grainews
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Ranchers have cut herds because of high feed costs and drought, leaving too few fed cattle for packers. This tightness sustains higher cattle and beef prices.

## Read by commodity

- LCATTLE: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| LCATTLE | 2023-04-10 | 5 | +3.5% | 3.8 | Surging cash cattle prices ($177-178) pushed CME live cattle futures to contract highs in the days before April 10, directly driving the 5-day gain. |
| LCATTLE | 2023-04-11 | 5 | +3.0% | 3.1 | Apr 6 report of contract-high futures as Nebraska cash cattle traded $177-178 shows the cash-led rally inside the 5-day window (Apr 4-11). |

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-livestock-sizzling-cash-cattle-prices-ignite-rally-in-cme-futures
- grainews.ca: https://www.grainews.ca/daily/u-s-livestock-sizzling-cash-cattle-prices-ignite-rally-in-cme-futures/

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