LIVESTOCK-CME feeder cattle hit new highs on supplies, cash market

Apr 20, 2023

Chicago Mercantile Exchange feeder cattle futures hit new all-time highs in the nearby contracts on Monday, as bidding wars continue to rally cash prices as more producers show interest in expanding their herds, traders said.

The rally helped give a boost to the pork market, where CME April lean hogs ended up 0.125 cent at 71.875 cents per pound, while most-active June lean hogs rose 1.3 cent at 88.175 cents per pound.

Tight U.S. cattle supplies have been rallying cash prices for weeks, as some cattle producers are gambling on fat profits by putting more animals on pasture this spring, traders said.

As supplies are expected to decline further in the second half of the year, investors on Monday shrugged off a rally in corn futures to further push for new price peaks in the cattle market, said Dan Norcini, an independent livestock trader.

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Video: 2026 T.K. Cheung Lecture in Animal Science - Dan Weary

T.K. Cheung Lecture in Animal Science: "Using science to assess and improve the welfare of dairy cattle"

Dan Weary is a Professor at the University of British Columbia. Dan did his BSc and MSc at McGill and Doctorate at Oxford before co-founding UBC’s Animal Welfare Program where he now co-directs this active research group. His research focuses on understanding the perspectives of animals and applying these insights to develop methods of assessing animal welfare and improving the lives of animals. His work has helped drive changes in practices (including the adoption of higher milk rations for calves and pain management for disbudding) and housing methods (including the adoption of social housing for pre-weaned calves). He also studies cow comfort and lameness, social interactions among cows, and interactions between cows, human handlers and technologies like automated millking systems that are increasingly used on farms. His presentation will outline key questions in cattle welfare, highlight recent UBC research addressing them, and showcase innovative methods for improving the lives of cattle and their caretakers.