Live Cattle futures hit new contract highs on tight supplies.

Today in the livestock markets, Live Cattle futures extended their rally to a seventh consecutive day as tight supplies drove prices to new contract highs, with the June contract adding $2.13 to reach 248.45. Feeder Cattle futures also showed strength, hitting a new six-month high supported by robust demand and funds adding to long positions, lifting the May contract by $2.00. Additionally, Lean Hogs futures experienced a significant jump driven by technical buying and higher pork cutouts, pushing the June contract up $2.88 to 107.35. Market volatility remained steady across the board, with CVOL for Live Cattle at 16.4%, Feeder Cattle at 18.7%, and Lean Hogs at 18.5%.