CME Cattle Futures Reach October Highs

CME cattle futures, which are like bets on future cattle prices, reached their highest levels since October.

This happened because there aren't many cattle available in the U.S., and traders think this will continue.

The U.S. has been blocking cattle imports from Mexico because of a parasite called New World screwworm.

Higher cattle prices are making it harder for meatpackers to make money.

Meanwhile, hog futures, which are like bets on future hog prices, went down a little after going up the day before.

There are actually more hogs in the U.S. now than last year.