Cattle futures surge to record highs - CME
Hog prices hit lowest point since January
15 April 2026
1 minute read
By: Live cattle futures soared to records on Tuesday as traders braced for stronger beef demand among US consumers over the summer and anticipated higher cash prices as the nation's herd remains historically small, reported Reuters.
Demand for beef, which has been robust despite lofty prices, typically rises during the summer as consumers head outside for cookouts.
However, US supplies of cattle that can be processed into hamburgers and steaks have dwindled to the lowest level in 75 years. Ranchers increasingly sent cattle to slaughter in recent years, instead of keeping them for breeding, because of high prices and a drought that burned up grazing lands.
"We don't have enough cattle," said Jim Gerlach, president of A/C Trading.
Most-active CME June live cattle climbed 2.9 cents to close at 251.425 cents per pound and set a contract high of 252 cents per pound.
The thinly traded April contract traded up to 253.600 cents per pound, an all-time high on a continuous chart of the front live cattle contract.
Last week, cash prices also reached records, traders said, raising costs for meatpackers such as Tyson Foods, Cargill and JBS that buy cattle to slaughter. Packers were losing an estimated $201.55 per head on Tuesday, according to HedgersEdge.com.
"Cattle are hitting contract highs amidst ideas of stronger cash cattle trade this week, despite the deeply red packer margins," said Brian Hoops, president of Midwest Market Solutions.
CME May feeder cattle rose 2.025 cents to close at 374.850 cents per pound and set a contract high of 377.575 cents per pound.
Cattle futures could continue rising due to tight suppliers, robust demand and a drought in the US Plains that is discouraging ranchers from expanding their herds, analysts said.
In the pork market, CME June lean hogs dropped 0.675 cent to 102.45 cents per pound and set the lowest price since January 2. The contract has declined for six consecutive sessions.
