Live cattle futures are approaching a historical high point.

Live cattle futures have climbed to their highest level of the year, nearing the historical record set in October. The most actively traded contract settled up 0.8% at $2.461 per pound, just 2 cents below the record high of $2.48 set last year. Live cattle prices seem to have shrugged off the impact of high energy prices, which had been a pressure point on the contract during the Iran War. Lean hog futures settled down 0.9% at 90.125 cents per pound.