Beef futures hit new highs on tight supply, strong demand - CME Hog prices dip as pork market shows signs of softening8 August 2025 8 August 2025 2 minute read 2 minute read By: By: Global Ag Media North AmericaChicago Mercantile Exchange (CME) live and feeder cattle futures hit contract highs for the second day in a row on Thursday as strong cash cattle prices and resilient consumer demand continued to fuel a rally, Reuters reported, citing analysts. As cash prices have continued to soar, futures have had to increase to keep pace. A scarce supply of cattle and strong consumer demand for beef have contributed to higher cattle prices. CME October live cattle futures LCV25 ended 2.575 cents higher to 232.225 cents per pound. Meanwhile, a rally in wholesale beef prices has continued as meatpackers reduced slaughter rates.