October 5, 2011


US cattle futures hit record high amid demand



US cattle futures reached a record high on Monday (Oct 3) because meatpackers' demand for the reduced herd stayed strong, offsetting a fall in beef consumption, according to the Financial Times.


In Chicago, CME October live cattle, representing livestock fattened for sale, added 0.8% to US$1.2315 a pound, exceeding a previous front-month record peak hit in April.


The rise in prices comes as the US cattle inventory is at its lowest level since at least 1973, according to the USDA. Although the average American is eating less meat, exports of beef and veal are on the rise.

Video >

Follow Us