Live cattle futures chart is showing a gradually steepening

Live cattle futures chart is showing a gradually steepening forward curve for late 2024 deliveries, indicating traders price in sustained high beef prices even as feed costs stabilize. As the raw materials sector moves into July, seasonality in natural gas during the cooling season, gasoline during the driving season, and cattle and hogs during the grilling season could continue to support prices. tastytrade, Inc. ("tastytrade”) is a registered broker-dealer and member of FINRA, NFA, and SIPC. tastytrade was previously known as tastyworks, Inc. (“tastyworks”). tastytrade offers self-directed brokerage accounts to its customers. tastytrade does not give financial or trading advice, nor does it make investment recommendations. You alone are responsible for making your investment and trading decisions and for evaluating the merits and risks associated with the use of tastytrade’s systems, services or products. tastytrade is a wholly-owned subsidiary of tastylive, Inc. Live cattle futures chart trends suggest a tightening supply outlook due to prolonged drought conditions in the Plains, which are cutting herd sizes and keeping forward bids elevated above $185 per cwt.