Live cattle futures are on the rise, despite a drop in prices for select beef cuts.

Live cattle futures at the Chicago Mercantile Exchange rose, despite a slight drop in beef prices this week. ADM Investor Services said in a report, "In the past 7 days, the price of choice beef has dropped by $12.05 per hundredweight, while the price of select beef has dropped by $9.72." The next major holiday that could stimulate demand is Memorial Day weekend - the official start of barbecue season. Live cattle futures rose by 0.2%, while lean hog futures remained unchanged.