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Live Cattle Feb '23 (LEG23)

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Live Cattle Futures Market News and Commentary

Cattle Rallies on Wednesday

Live cattle futures were pushed higher by the bulls on Wednesday, with contracts up 70 cent to $3.45. Last week saw cash sales roll in at $189-191 in the South, as the North exchanged hands at $197-198.  Cash trade has been slow to develop this week. Wednesday morning’s Fed Cattle Exchange online auction from Central Stockyards showed sales of $193 in TX using the BidTheGrid™ method. Live bids were at $188 in TX. Feeder cattle futures were $2.55 to $2.72 higher on the session. The CME Feeder Cattle Index was back up 41 cents on June 25 at $258.31. 

USDA wholesale Boxed Beef prices were lower in the Wednesday PM report. Choice boxes were down 54 cents to $322.85/cwt, with Select $2.40 lower at $302.86. The Chc/Select spread widened to $19.99. USDA estimated Wednesday’s FI slaughter at 117,000 head, with this week’s total at 353,000 head. That is down 7,000 head from the previous week and 14,402 below the same week last year.

Jun 24 Live Cattle  closed at $192.925, up $3.4... 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
02/06/23
Expiration Date
02/28/23 (expired)

Seasonal Chart

Live Cattle Feb '23
Average Price Chart for 5 Prior Feb Contracts

Commitment of Traders Positions as of Jun 18, 2024

View Chart Details
Commercials - Long / Short
93,106 (-1,400)
139,118 (+784)
Non-Commercials - Long / Short
113,834 (+3,995)
61,387 (+2,706)
Producers - Long / Short
39,155 (-2,221)
132,888 (+429)
Swap Dealers - Long / Short
49,875 (+414)
2,154 (-52)
Managed Money - Long / Short
76,382 (+3,395)
20,429 (+513)
Other Reportables - Long / Short
37,452 (+600)
40,958 (+2,193)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
157.050 +6.65%
on 01/30/23
167.500 unch
on 02/28/23
+10.775 (+6.88%)
since 01/27/23
3-Month
152.750 +9.66%
on 12/07/22
167.500 unch
on 02/28/23
+12.825 (+8.29%)
since 11/28/22
52-Week
147.225 +13.77%
on 05/31/22
167.500 unch
on 02/28/23
+16.925 (+11.24%)
since 02/28/22

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Most Recent Stories

More News
History of recent USDA late June planted acreage reports & corn belt weather

As stated, this post is Jim's take on the upcoming USDA report, with a comparative survey of past summers, he recaps what followed in the markets.

ZSU24 : 1106-0 (-0.11%)
SOYB : 23.65 (-0.21%)
ZCU24 : 425-0 (-0.12%)
CORN : 18.77 (-1.11%)
TAGS : 26.29 (-0.32%)
DBA : 23.91 (-0.21%)
HEQ24 : 88.975s (+2.56%)
LEQ24 : 186.750s (+1.26%)
Cattle Rallies on Wednesday

Live cattle futures were pushed higher by the bulls on Wednesday, with contracts up 70 cent to $3.45. Last week saw cash sales roll in at $189-191 in the South, as the North exchanged hands at $197-198....

LEM24 : 192.925s (+1.82%)
LEQ24 : 186.750s (+1.26%)
LEV24 : 186.125s (+0.96%)
GFQ24 : 261.775s (+1.05%)
GFU24 : 262.475s (+0.92%)
GFV24 : 262.900s (+0.88%)
Hogs Square Up Positions Ahead of Thursday’s Report

Lean hog futures were up 90 cents to $2.22 on Wednesday as traders squared up ahead of Thursday’s Hogs & Pigs report. The USDA National Base Hog price reported at $88.64 on Wednesday afternoon, down...

HEN24 : 89.900s (+1.01%)
HEQ24 : 88.975s (+2.56%)
HEV24 : 75.375s (+2.41%)
Pure Hedge - Livestock and Grain

Livestock Markets On Fire - Grain Markets Underwater

Shootin' the Bull about converging basis

Traders got busy today in shoring up the basis.  With only two days to go, and at a discount, the June contract is quite impressive.

Broiler Hatchery

Broiler Hatchery - 2024-06-26

Z8Y00 : 116.50s (unch)
WDU24 : 3,975s (+0.84%)
Cattle Bulls Putting on a Rally at Midday

Live cattle futures are trading with triple digit gains at midday, as contracts are up $1.10 to $1.57. Last week saw cash sales roll in at $189-191 in the South, as the North exchanged hands at $197-198....

LEM24 : 192.925s (+1.82%)
LEQ24 : 186.750s (+1.26%)
LEV24 : 186.125s (+0.96%)
GFQ24 : 261.775s (+1.05%)
GFU24 : 262.475s (+0.92%)
GFV24 : 262.900s (+0.88%)
Hogs Pushing Higher on Wednesday

Lean hog futures are posting 65 cent to $2.07 gains on Wednesday as trader square up ahead of Thursday’s Hogs & Pigs report. The USDA National Base Hog price reported at $88.74 on Wednesday morning,...

HEN24 : 89.900s (+1.01%)
HEQ24 : 88.975s (+2.56%)
HEV24 : 75.375s (+2.41%)
Cattle Look to Midweek Trade, with Cash Quiet So Far

Live cattle futures ended Tuesday anywhere from 57 cents higher to 40 cents lower. Cash trade was slow to develop last week, as late sales rolled in at $189-191 in the South, as the North exchanged hands...

LEM24 : 192.925s (+1.82%)
LEQ24 : 186.750s (+1.26%)
LEV24 : 186.125s (+0.96%)
GFQ24 : 261.775s (+1.05%)
GFU24 : 262.475s (+0.92%)
GFV24 : 262.900s (+0.88%)
Hogs Shift Focus to Wednesday as NASS shows Tighter Stocks

Lean hog futures closed out the Tuesday session with contracts down 47 to 95 cents. August was the exception, up a tick. The USDA National Base Hog price reported at $89.21 on Tuesday afternoon, up $2.57...

HEN24 : 89.900s (+1.01%)
HEQ24 : 88.975s (+2.56%)
HEV24 : 75.375s (+2.41%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 171.067
2nd Resistance Point 169.283
1st Resistance Point 168.392
Last Price 167.500s
1st Support Level 165.717
2nd Support Level 163.933
3rd Support Level 163.042

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52-Week High 167.500
Last Price 167.500s
Fibonacci 61.8% 159.755
Fibonacci 50% 157.363
Fibonacci 38.2% 154.970
52-Week Low 147.225

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