Cattle futures chart current CME cattle futures chart data

Current CME cattle futures chart data reflects slight volatility, as August live cattle remain supported by firm cash trade around $186. If cattle futures trading action so far this year has shown one thing, it’s that cattle bulls are very resilient. Not only are historically light cattle numbers on feed bullish, but consumer demand for beef remains strong as peak grilling outdoor season is at hand. The USDA Agricultural Baseline Projections provide a 10-year outlook for major crop and livestock commodities based on key assumptions related to macroeconomic conditions, U.S. policy, weather, and existing international agreements. The data include agricultural production, trade, and domestic demand projections. Projections are made assuming normal or “average” weather (without extreme weather events), use data available as of the October 2024 World Agricultural Supply and Demand Estimates (WASDE) report, and are not updated to reflect subsequent monthly revisions of short-term forecasts. The projections, popularly referred to as the “Baseline,” are critical for supporting estimates of farm program spending under the President’s budget released each year by the U.S. Office of Management and Budget. In addition, the projections can be used in crop planning and investment decisions, as well as domestic and international business decisions throughout the agribusiness supply chain. Reviewing the cattle futures chart, live cattle prices have gained 1.2% week-over-week. This trend is supported by lower cow slaughter numbers and high-quality beef premiums attracting food service buyers.