CME Feeder Cattle Rises Amid Consumer Demand and Limited Supply

Chicago Mercantile Exchange (CME) feeder cattle futures witnessed an increase on Monday, propelled by consumer demand and a continued shortage in cattle supply. According to Alan Brugler, president of Brugler Marketing, recent retail movements, especially with the U.S. Labor Day holiday approaching – a major barbecuing event – played a role in the boost. The most-active October feeder cattle rose by 3.050 cents, settling at 257.025 cents per pound. October live cattle saw a slight increase of 0.375 cents, ending at 181.550 cents per pound. On the other hand, after significant gains the previous week, boxed beef prices saw a slight decrease. In the same vein, CME lean hog futures experienced gains for the fourth consecutive session, driven by the impending Labor Day holiday demand. Wholesale pork carcass prices also climbed. However, pork processor slaughters were slightly down compared to the same period in the previous year. The CME’s Lean Hog Index reported a recent decline to 95.00 cents per pound.