The fall in oil prices pushes up beef prices.

Live cattle futures rose in early trading, as the drop in crude oil prices gave some breathing room to cattle prices. The Hightower Report stated in a report, "This morning, the lower energy prices, higher stock market, and weaker U.S. dollar may provide a boost to the market." However, new pressure on cattle prices may come from the strike at the JBS plant in Greeley, Colorado reducing demand for feeder cattle and putting pressure on prices, which could also impact live cattle futures. The most active live cattle contract rose by 0.8%, while lean hog futures were up 0.3% this morning.