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Feeder Cattle May '24 (GFK24)

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Feeder Cattle Futures Market News and Commentary

Cattle Rally Continues into the Weekend

Live cattle closed the Friday session with contracts up 67 cents to $2.02. June was up $4.90 on the week. USDA reported cash sales of $186-190 across the country on Friday, helped by the beef strength this week. Feeder cattle closed with gains of $1.12 to $2.50 on Friday, as May was up $7.92 on the week.  The CME Feeder Cattle index was up 71 cents on May 16 to $243.04 and converging nicely with May FC futures.

USDA’s Wholesale Boxed Beef prices continued to shoot higher in the Friday morning report, with retailers buying for Memorial Day features. Choice boxes were up another $3.30 at $313.45, with Select 89 cents higher to $297.40. That raised the Chc/Sel spread to $16.05. USDA estimated federally inspected cattle slaughter at 102,000 head on Friday, with the weekly total at 598,000 head through Saturday. That would be down 24,000 head from last week and 42,266 head below the same week last year. 

Jun 24 Live Cattle  closed at $181.050, up $2.025,

Aug 24 Live Cat... 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
05/23/24 (5 days)
Expiration Date
05/23/24 (5 days)

Seasonal Chart

Feeder Cattle May '24
Average Price Chart for 5 Prior May 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
237.400 +3.93%
on 05/10/24
249.700 -1.19%
on 04/29/24
+6.450 (+2.68%)
since 04/17/24
3-Month
232.625 +6.06%
on 04/12/24
263.125 -6.23%
on 02/27/24
-8.900 (-3.48%)
since 02/16/24

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Most Recent Stories

More News
Cattle Markets Strong, Hogs Weaken

Strong cash Drives cattle higher

Cattle Rally Continues into the Weekend

Live cattle closed the Friday session with contracts up 67 cents to $2.02. June was up $4.90 on the week. USDA reported cash sales of $186-190 across the country on Friday, helped by the beef strength...

LEM24 : 181.050s (+1.13%)
LEQ24 : 179.050s (+0.94%)
LEV24 : 181.950s (+0.73%)
GFK24 : 246.725s (+0.77%)
GFQ24 : 259.850s (+0.97%)
GFU24 : 260.850s (+0.95%)
Hogs Fall Lower on Friday

Lean hogs slipped lower into the weekend, with contracts down anywhere from a tick to $1.87, led by the nearbys. USDA’s National Average Base Hog negotiated price was back down 76 cents on Friday afternoon...

HEM24 : 96.500s (-1.91%)
HEN24 : 100.050s (-1.55%)
HEQ24 : 99.475s (-1.31%)
Pure Hedge - Livestock and Grain

Cattle Finish the Day and Week Higher. Hogs and Wheat Decline.

Shootin' the Bull about ability to market above current index high.

The feeder cattle futures remain premium to the index and as of Friday's close, minimum sale floors can be produced above the current historical high of the index.  So, you are able to market inventory...

Hogs Falling into Weekend

Lean hogs are slipping lower in the to weekend, with contracts down 25 cents to $2, led by the nearbys. USDA’s National Average Base Hog negotiated price was back down 58 cents on Friday morning at 88.78....

HEM24 : 96.500s (-1.91%)
HEN24 : 100.050s (-1.55%)
HEQ24 : 99.475s (-1.31%)
Cattle Rally Continues to Friday Midday

Live cattle are trading with gains of $1.07 to $1.87 across most front months on Friday. Cash action has been quiet this week, with USDA reporting a few in the WCB at $186-190 on Thursday. Bids of $187...

LEM24 : 181.050s (+1.13%)
LEQ24 : 179.050s (+0.94%)
LEV24 : 181.950s (+0.73%)
GFK24 : 246.725s (+0.77%)
GFQ24 : 259.850s (+0.97%)
GFU24 : 260.850s (+0.95%)
Are Cattle Futures Prices on the Verge of a Breakout?

Live cattle and feeder cattle futures prices have been firming up through this week’s trade as we inch towards what has historically been a friendly time of year for the markets.

Hogs Set to Close Out Week

Lean hogs faded off of some of the midday strength, but still found solid ground to post 5 to 87 cent higher trade. USDA’s National Average Base Hog negotiated price was up 60 cents on Thursday afternoon...

HEM24 : 96.500s (-1.91%)
HEN24 : 100.050s (-1.55%)
HEQ24 : 99.475s (-1.31%)
Cattle Look to Friday After Week of Beef Strength

Live cattle posted Thursday gains of a nickel to 92 cents, as boxed beef price continue to rally ahead of Memorial Day. Cash action has been quiet this week, with USDA reporting a few in the WCB at $186-190...

LEM24 : 181.050s (+1.13%)
LEQ24 : 179.050s (+0.94%)
LEV24 : 181.950s (+0.73%)
GFK24 : 246.725s (+0.77%)
GFQ24 : 259.850s (+0.97%)
GFU24 : 260.850s (+0.95%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 249.408
2nd Resistance Point 248.092
1st Resistance Point 247.408
Last Price 246.725s
1st Support Level 245.408
2nd Support Level 244.092
3rd Support Level 243.408

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52-Week High 276.125
Fibonacci 61.8% 253.415
Last Price 246.725s
Fibonacci 50% 246.400
Fibonacci 38.2% 239.385
52-Week Low 216.675

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