US cattle futures climb on tight supply and rising feedlot placements

Feeder cattle futures on the Chicago Mercantile Exchange rose on Tuesday, recovering from the previous session’s losses, while live cattle futures also advanced. Cash prices held steady at about $264‑$265 per cwt in Nebraska and Iowa, supporting the futures market. Don Roose of US Commodities said, "The futures can't go down if the cash holds steady to higher."

CME June live cattle futures gained 1.175 cents to 254.55 cents per pound, near a contract high, and August feeder cattle jumped 4.800 cents to close at 363.65 cents per pound. Analysts noted that U.S. cattle supplies are historically tight, with the herd size hitting a 75‑year low in 2026 after prolonged drought and a ban on Mexican cattle imports to block a screwworm parasite. Over 60 % of the herd now grazes in drought‑affected areas, up from 29 % a year earlier. The USDA is expected to report a 1.6 % rise in feedlot placements as of May 1 versus a year earlier, with April placements up 3.4 %.

In the lean‑hog market, June futures slipped 0.600 cent to 97.925 cents per pound, reaching their lowest level since December.