Cattle futures hit record highs on tight US supply - CME Lean hog prices surge as pork cutout climbs to 10-month peak9 June 2025 9 June 2025 2 minute read 2 minute read By: By: Global Ag Media North AmericaChicago Mercantile Exchange (CME) cattle futures set life-of-contract highs on Friday, sparked by soaring cash prices as meat packers scrambled to keep their plants operating while cattle supplies remained tight, Reuters reported, citing traders. CME August live cattle futures settled up 2.050 cents at 218.875 cents per pound after setting a contract high at 219.325 cents. Front-month June live cattle futures surged 5% this week to finish at 226.300 cents per pound but remained at a significant discount to cash prices. Lean hog futures also rose, with most months setting contract highs on spillover strength from the cattle market and robust wholesale pork prices. Benchmark CME July hogs settled up 2.300 cents at 107.100 cents after setting a contract high at 107.275 cents.