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Feeder Cattle Aug '24 (GFQ24)

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Feeder Cattle Futures Market News and Commentary

Cattle Rally Resumes on Tuesday

Live cattle posted higher trade on Tuesday, with contracts closing 75 cent to $1.87 higher. Cash trade this week has been relatively quite so far, with a few light trades of $192 in the north being picked up.  USDA reported cash sales of $186 in the South, up to $190 in the North last week. Feeder cattle saw gains of $1.35 to $2.25 across the board on Tuesday. The CME Feeder Cattle index was up 88 cents on May 20 to $247.75.

The average trade estimates for Friday’s Cattle on Feed report is to show April placements down 6.1% from last year, with April marketings up 9.8%. That would peg the May 1 on feed inventory down 0.8%. 

USDA’s Wholesale Boxed Beef prices were higher in the Tuesday afternoon print. Choice boxes were up 32 cents at $313.02, with Select $1.52 higher to $300.87. That narrowed the Chc/Sel spread to $12.15. Tuesday’s estimated FI cattle slaughter was at 122,000 head by the USDA, taking the weekly total to 242,000 head. That is up 3,000 head from last week... Read more

Contract Specifications

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Contract
Feeder Cattle
Contract Size
50,000 pounds
Tick Size
0.00025 per pound ($12.50 per contract)
Trading Hours
8:30a.m. - 1:05p.m. (Settles 1:00p.m.) CST
Exchange
CME
Point Value
$500
Margin/Maintenance
$4,537/4,125
First Notice Date
08/29/24 (100 days)
Expiration Date
08/29/24 (100 days)

Seasonal Chart

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

Commitment of Traders Positions as of May 14, 2024

View Chart Details
Commercials - Long / Short
15,512 (-51)
9,721 (+177)
Non-Commercials - Long / Short
14,118 (+1,315)
14,561 (+381)
Producers - Long / Short
11,317 (-68)
8,597 (+196)
Swap Dealers - Long / Short
3,328 (+24)
257 (-12)
Managed Money - Long / Short
9,917 (+539)
5,506 (+31)
Other Reportables - Long / Short
4,201 (+776)
9,055 (+350)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
249.050 +4.33%
on 05/10/24
261.800 -0.75%
on 04/29/24
+6.325 (+2.50%)
since 04/19/24
3-Month
243.275 +6.80%
on 04/12/24
271.750 -4.39%
on 02/26/24
-10.300 (-3.81%)
since 02/21/24

More Feeder Cattle Quotes

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Most Recent Stories

More News
Cattle Rally Resumes on Tuesday

Live cattle posted higher trade on Tuesday, with contracts closing 75 cent to $1.87 higher. Cash trade this week has been relatively quite so far, with a few light trades of $192 in the north being picked...

LEM24 : 182.975s (+0.83%)
LEQ24 : 180.425s (+1.05%)
LEV24 : 183.150s (+0.73%)
GFK24 : 248.950s (+0.91%)
GFQ24 : 259.825s (+0.52%)
GFU24 : 261.125s (+0.57%)
Hog Fade Lower on Tuesday

Lean hogs closed the Tuesday session with contracts steady to 62 cents lower across the board. USDA’s National Average Base Hog negotiated price was reported at $88.20 on Tuesday afternoon, up $1.77...

HEM24 : 96.400s (-0.54%)
HEN24 : 99.325s (-0.63%)
HEQ24 : 98.575s (-0.63%)
Shootin' the Bull about inching towards trend lines

Traders stopped June at the top of the down trend line, via the close only chart.  The bar chart only has a few more cents from today's high to put the price at the top trend line.  With cash quite a...

Cattle Extending Rally at Midday

Live cattle are trading with 52 cent to $1.80 gains across most contracts on Tuesday. Cash trade this week has been relatively quite so far. USDA reported cash sales of $186 in the South, up to $190 in...

LEM24 : 182.975s (+0.83%)
LEQ24 : 180.425s (+1.05%)
LEV24 : 183.150s (+0.73%)
GFK24 : 248.950s (+0.91%)
GFQ24 : 259.825s (+0.52%)
GFU24 : 261.125s (+0.57%)
Hog Facing Weakness on Tuesday

Lean hogs are trading with contracts down 35 to 90 cents at midday. USDA’s National Average Base Hog negotiated price was reported at $88.49 this morning, up $2.03 from the Monday afternoon report. The...

HEM24 : 96.400s (-0.54%)
HEN24 : 99.325s (-0.63%)
HEQ24 : 98.575s (-0.63%)
Cattle Looks to Tuesday Trade as Beef Rally Slows

Live cattle posted mixed action with contracts 50 cents lower to 42 cents higher. June futures were held up with a 42 cent gain, as futures are still $4-8 discount to cash. USDA reported cash sales of...

LEM24 : 182.975s (+0.83%)
LEQ24 : 180.425s (+1.05%)
LEV24 : 183.150s (+0.73%)
GFK24 : 248.950s (+0.91%)
GFQ24 : 259.825s (+0.52%)
GFU24 : 261.125s (+0.57%)
Hog Traders Switch Focus to Tuesday

Lean hogs saw mixed action to close out the Monday session with contracts 15 to 60 cents higher and the summer contracts down a dime to 27 cents. USDA’s National Average Base Hog negotiated price down...

HEM24 : 96.400s (-0.54%)
HEN24 : 99.325s (-0.63%)
HEQ24 : 98.575s (-0.63%)
Wheat Is Holding 23.6%, Hogs Hit 61.8% Target

You only have to look at the chart below to see how well the market adheres to the Fibonacci retracements.

ZWN24 : 697-4s (+1.27%)
HEM24 : 96.400s (-0.54%)
Cattle Feeling Weaker on Monday as Beef Rally Slows

Live cattle posted mixed action with contracts 50 cents lower to 42 cents higher. June futures were held up with a 42 cent gain, as futures are still $4-8 discount to cash. USDA reported cash sales of...

LEM24 : 182.975s (+0.83%)
LEQ24 : 180.425s (+1.05%)
LEV24 : 183.150s (+0.73%)
GFK24 : 248.950s (+0.91%)
GFQ24 : 259.825s (+0.52%)
GFU24 : 261.125s (+0.57%)
Hogs Close Mixed on Monday

Lean hogs saw mixed action to close out the Monday session with contracts 15 to 60 cents higher and the summer contracts down a dime to 27 cents. USDA’s National Average Base Hog negotiated price down...

HEM24 : 96.400s (-0.54%)
HEN24 : 99.325s (-0.63%)
HEQ24 : 98.575s (-0.63%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 262.367
2nd Resistance Point 261.308
1st Resistance Point 260.567
Last Price 259.825s
1st Support Level 258.767
2nd Support Level 257.708
3rd Support Level 256.967

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52-Week High 282.925
Fibonacci 61.8% 262.517
Last Price 259.825s
Fibonacci 50% 256.212
Fibonacci 38.2% 249.908
52-Week Low 229.500

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