CME Cattle Futures Recover as US Plans to Lift Beef Import Tariffs
CME cattle futures pare losses after falling on US beef import plan
Mint
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Chicago Mercantile Exchange live cattle and feeder cattle futures recovered losses after a drop due to expectations of increased beef imports into the U.S. President Donald Trump is set to sign executive orders aimed at boosting imports and renewing the cattle herd to combat rising beef prices, which have reached record highs.
- 01CME live cattle futures closed at 249.400 cents per pound, up 0.500 cents.
- 02President Trump's executive orders aim to increase beef imports and support the U.S. cattle herd.
- 03The U.S. cattle herd is at its lowest level in 75 years, contributing to soaring beef prices.
- 04Expectations of increased beef imports from Brazil have impacted U.S. cattle futures.
- 05June lean hogs rose to 100.225 cents per pound, rebounding from recent lows.
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On May 11, Chicago Mercantile Exchange live cattle and feeder cattle futures saw a recovery after initially declining due to expectations that the U.S. would eliminate tariffs on imported beef. President Donald Trump is preparing to sign executive orders to facilitate increased beef imports and support the renewal of the U.S. cattle herd, which has dwindled to its lowest level in 75 years. Record-high beef prices have resulted from strong consumer demand and a shrinking cattle herd exacerbated by persistent drought conditions. CME June live cattle futures closed at 249.400 cents per pound, up 0.500 cents, while August feeders ended down at 362.300 cents per pound. Additionally, June lean hogs increased to 100.225 cents per pound, marking a rebound from the lowest levels seen since December.
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The executive orders could lead to lower beef prices for consumers as increased imports may stabilize the market.
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