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Live Cattle Aug '24 (LEQ24)

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Live Cattle Futures Market News and Commentary

Cattle Hold Opening Strength to Close Higher on Thursday

Live cattle shot higher following Wednesday’s late USDA H5N1 announcement, closing with $1.90 to $2.95 gains. Cash trade has been slow to develop this week with a few $186 in KS reported by the USDA, with NE at $187. Both would be an improvement on the week, but noted volume has been light. Feeders were up $2.17 to $3.62 across the board on Thursday. The CME Feeder Cattle index was down $3.69 on May 1 to $243.37.

On Wednesday, USDA issued a release stating their tests on the ground beef in states where dairy herds have tested positive for the H5N1 bird flu, came back negative for the virus. 

Export Sales of beef in the week of 4/25 totaled 22,468 MT, a calendar year high. South Korea was the top buyer of 9,600 MT, with 5,200 MT sold to Japan. Shipments totaled 14,631 MT, an improvement from last week. Japan was the top destination at 3,800 MT, with 3,400 MT on its way to South Korea. Census data converted to a carcass weight scale showed 256.1 million lbs of US beef expo... Read more

Contract Specifications

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Contract
Live Cattle
Contract Size
40,000 pounds
Tick Size
0.00025 per pound ($10.00 per contract)
Trading Hours
8:30a.m. - 1:05p.m. (Settles 1:00p.m.) CST
Exchange
CME
Point Value
$400
Margin/Maintenance
$2,695/2,450
First Notice Date
08/05/24 (94 days)
Expiration Date
08/30/24 (119 days)

Seasonal Chart

Live Cattle Aug '24
Average Price Chart for 5 Prior Aug Contracts

Commitment of Traders Positions as of Apr 23, 2024

View Chart Details
Commercials - Long / Short
96,676 (-5,386)
136,527 (-1,510)
Non-Commercials - Long / Short
99,621 (+4,094)
52,068 (-448)
Producers - Long / Short
38,263 (-5,946)
131,422 (-1,239)
Swap Dealers - Long / Short
55,732 (+748)
2,424 (-83)
Managed Money - Long / Short
63,953 (+2,901)
23,840 (-180)
Other Reportables - Long / Short
35,668 (+1,193)
28,228 (-268)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
167.650 +3.76%
on 04/12/24
177.925 -2.23%
on 04/26/24
+0.825 (+0.48%)
since 04/02/24
3-Month
167.650 +3.76%
on 04/12/24
185.050 -6.00%
on 03/21/24
-7.725 (-4.25%)
since 02/02/24
52-Week
163.625 +6.31%
on 12/06/23
192.450 -9.61%
on 09/15/23
+4.150 (+2.44%)
since 05/02/23

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Most Recent Stories

More News
Lean Hogs Bull Run Ends At A 61.8% And 78.6% Fibonacci Retracements, Grains

Educational and Actionable information using Fibonacci and W.D. Gann analysis.

HEM24 : 99.925s (-0.50%)
ZSK24 : 1193-0 (+0.25%)
ZCK24 : 455-0 (+0.66%)
ZWK24 : 586-4s (+0.86%)
Hogs Mixed Around on Thursday

Lean hogs continue the mixed trade this week, as Thursday closed with contracts down 10 to 50 cents in the front months and other contracts up 5 to 77 cents. USDA’s National Average Base Hog negotiated...

HEK24 : 93.075s (+0.05%)
HEM24 : 99.925s (-0.50%)
HEN24 : 103.525s (-0.10%)
Cattle Hold Opening Strength to Close Higher on Thursday

Live cattle shot higher following Wednesday’s late USDA H5N1 announcement, closing with $1.90 to $2.95 gains. Cash trade has been slow to develop this week with a few $186 in KS reported by the USDA,...

LEM24 : 176.800s (+1.70%)
LEQ24 : 173.950s (+1.67%)
LEV24 : 177.375s (+1.44%)
GFK24 : 243.600s (+0.90%)
GFQ24 : 255.225s (+1.38%)
GFU24 : 255.975s (+1.34%)
Shootin' the Bull about volatility

Some are not familiar with what volatility is.  I think today's example will give you a good idea of how volatile the fat cattle futures market is.

Cattle Shoot Higher After USDA Confirms Negative H5N1 Meat Samples

Live cattle are posting midday gains of $2 to $3.40 following the USDA H5N1 announcement. Cash trade has been slow to develop this week with a few $186 in KS reported by the USDA, with NE at $187. Both...

LEM24 : 176.800s (+1.70%)
LEQ24 : 173.950s (+1.67%)
LEV24 : 177.375s (+1.44%)
GFK24 : 243.600s (+0.90%)
GFQ24 : 255.225s (+1.38%)
GFU24 : 255.975s (+1.34%)
Hogs Posting Mixed Thursday Action

Lean hogs are showing losses of 12 to 67 cents in the front months on Thursday, with gains in the deferreds. USDA’s National Average Base Hog negotiated price was down $1.63 from the day prior in the...

HEK24 : 93.075s (+0.05%)
HEM24 : 99.925s (-0.50%)
HEN24 : 103.525s (-0.10%)
Hogs Focus on Thursday Trade

Lean hogs fell lower on Wednesday, as contracts were anywhere from $1 to $2.05 in the red. USDA’s National Average Base Hog negotiated price was down a penny from the day prior in the Wednesday PM report...

HEK24 : 93.075s (+0.05%)
HEM24 : 99.925s (-0.50%)
HEN24 : 103.525s (-0.10%)
Cattle Look to Thursday After USDA Confirms Negative H5N1 Meat Samples

Live cattle were lower again on Wednesday, with contracts down $1.12 to $2.37 at the close. Cash trade has yet to develop this week. The Central Stockyards online Fed Cattle Exchange auction saw no sales...

LEM24 : 176.800s (+1.70%)
LEQ24 : 173.950s (+1.67%)
LEV24 : 177.375s (+1.44%)
GFK24 : 243.600s (+0.90%)
GFQ24 : 255.225s (+1.38%)
GFU24 : 255.975s (+1.34%)
Pure Hedge - Livestock and Grain

Patient and Accurate

Cattle Head Lower to Close Out Wednesday

Live cattle fell lower again on Wednesday, with contracts down $1.12 to $2.37 at the close. Cash trade has yet to develop this week. The Central Stockyards online Fed Cattle Exchange auction saw no sales...

LEM24 : 176.800s (+1.70%)
LEQ24 : 173.950s (+1.67%)
LEV24 : 177.375s (+1.44%)
GFK24 : 243.600s (+0.90%)
GFQ24 : 255.225s (+1.38%)
GFU24 : 255.975s (+1.34%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Soft Signal Strength.

Key Turning Points

3rd Resistance Point 176.825
2nd Resistance Point 176.050
1st Resistance Point 175.000
Last Price 173.950s
1st Support Level 173.175
2nd Support Level 172.400
3rd Support Level 171.350

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52-Week High 192.450
Fibonacci 61.8% 181.439
Fibonacci 50% 178.038
Fibonacci 38.2% 174.636
Last Price 173.950s
52-Week Low 163.625

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