By Tim Petry
Chicago Mercantile Exchange Group (CME) live cattle and feeder cattle futures market prices have been quite volatile this year. Futures markets try to anticipate what the cash market will be.
Feeder cattle cash and futures prices traded at record-high levels in the first half of 2026 due to lower cattle and beef supplies and relatively strong consumer beef demand. When futures prices are record-high, volatility is usually also high because many fundamental supply-and-demand factors can affect the market in the future.
Cattle and beef supply factors are well-documented. The July USDA Cattle Inventory report confirmed the eighth-straight year of drought-forced beef cow liquidation, causing smaller calf crops and declining beef production. The report is available at
https://usda.library.cornell.edu/concern/publications/h702q636h.
Lower supplies have been supportive to prices.
Source : ndsu.edu