Beef futures hit record highs on tight US cattle supplies - CME Pork slaughter edges higher but lean hog prices trend lower9 July 2025 9 July 2025 2 minute read 2 minute read By: By: Global Ag Media North AmericaChicago Mercantile Exchange (CME) live cattle and feeder cattle futures surged to contract highs on Tuesday due to tight domestic inventories, reported Reuters. CME August live cattle futures jumped 4.075 cents to close at 219.975 cents per pound. Wholesale boxed beef prices also rose, with choice cuts up $2.06 at $393.04 per cwt, according to US Department of Agriculture data. Futures and cash prices for cattle hit records this year as supplies dwindled to their lowest level in decades. However, rising wholesale beef prices prompted traders to question whether cash cattle prices will drop as previously expected, said Rich Nelson, chief strategist for brokerage Allendale.