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Barchart
Barchart
Jim Wyckoff

Cattle Futures Prices Drop from Record Highs, But Bulls May Still Have Legs

USDA NASS United States Plains

April live cattle futures (LEJ25) have felt heavy selling pressure over the past week after prices hit a contract high of $207.725 a hundredweight on Jan. 28. Nearby live cattle futures (LEG25) notched a record high of $209.35 at the same time. Same goes for March feeder cattle futures (GFH25) after that market scored a contract high of $279.825 on Jan. 29. Nearby feeder futures scored a record high of $282.25. Cash cattle (LEY00) (GFY00) prices posted a fresh all-time average high of $209.57 in the last week of January – the fifth straight week for a record high average and the 11th straight week of price gains in the average.

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