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Feeder Cattle May '24 (GFK24)

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Feeder Cattle Futures Market News and Commentary

Cattle Holding Higher on Wednesday’s Midday

Live cattle are extending the week’s gains, as contracts are up 17 to 50 cents at midday.  Cash action has been quiet this week. The Central Stockyards Fed Cattle Exchange saw no sales on the 1,352 head listed on Wednesday morning, with bids of $181-181.25 and asks in the $185-186 range. Feeders are mostly higher, with gains of 12 to 62 cents. The CME Feeder Cattle index was up 39 cents on May 13 to $241.75.

USDA’s Wholesale Boxed Beef prices were higher again in the Wednesday morning report. Choice boxes were up another $2.98 at $307.37, with Select 85 cents higher to $294.67. That raised the Chc/Sel spread to $12.70. USDA estimated federally inspected cattle slaughter at 123,000 head for Tuesday, taking the weekly total to 239,000. That is down 5,000 head from last week and 12,957 head below the same week last year. 

Jun 24 Live Cattle  are at $178.350, up $0.175,

Aug 24 Live Cattle  are at $176.625, up $0.500,

Oct 24 Live Cattle  are at $179.775, up $0.425... 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 (8 days)
Expiration Date
05/23/24 (8 days)

Seasonal Chart

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

Commitment of Traders Positions as of May 7, 2024

View Chart Details
Commercials - Long / Short
15,563 (+157)
9,544 (-811)
Non-Commercials - Long / Short
12,803 (-554)
14,180 (+518)
Producers - Long / Short
11,385 (-65)
8,401 (-379)
Swap Dealers - Long / Short
3,304 (+607)
269 (-47)
Managed Money - Long / Short
9,378 (-374)
5,475 (+352)
Other Reportables - Long / Short
3,425 (-180)
8,705 (+166)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
236.875 +2.65%
on 04/16/24
249.700 -2.62%
on 04/29/24
+5.150 (+2.16%)
since 04/15/24
3-Month
232.625 +4.52%
on 04/12/24
263.125 -7.59%
on 02/27/24
-9.750 (-3.86%)
since 02/15/24

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Cattle Holding Higher on Wednesday’s Midday

Live cattle are extending the week’s gains, as contracts are up 17 to 50 cents at midday. Cash action has been quiet this week. The Central Stockyards Fed Cattle Exchange saw no sales on the 1,352 head...

LEM24 : 178.250s (+0.04%)
LEQ24 : 176.525s (+0.23%)
LEV24 : 179.700s (+0.20%)
GFK24 : 243.150s (-0.05%)
GFQ24 : 255.875s (+0.08%)
GFU24 : 256.950s (+0.13%)
Hog Mixed on Wednesday

Lean hogs are mixed on Wednesday, with June down 70 cents, with other contracts slightly above unch. USDA’s National Average Base Hog negotiated price was up $1.17 from the Tuesday afternoon print at...

HEM24 : 97.500s (-0.84%)
HEN24 : 100.875s (-0.05%)
HEQ24 : 100.025s (+0.13%)
Cattle Futures Firm

Livestock futures gain ground in Tuesday’s trade, will they see follow through today?

Cattle Bulls Helped by Boxed Beef Pop

Live cattle closed the Tuesday session with $1.60 to $2.72 gains, as boxed beef rallied for a second consecutive day. Cash action was mostly compiling showlists early this week. Last week was mixed, with...

LEM24 : 178.250s (+0.04%)
LEQ24 : 176.525s (+0.23%)
LEV24 : 179.700s (+0.20%)
Hog Bulls Look to Extend Tuesday Gains on Wednesday

Lean hogs saw some gains to round up the Tuesday session, up 7 to 87 cents across the board. USDA’s National Average Base Hog negotiated price was up $1.05 in the Tuesday afternoon print at $90.83. The...

HEM24 : 97.500s (-0.84%)
HEN24 : 100.875s (-0.05%)
HEQ24 : 100.025s (+0.13%)
Cattle Rally Alongside Boxed Beef Pop

Live cattle closed the Tuesday session with $1.60 to $2.72 gains, as boxed beef rallied for a second consecutive day. Cash action was mostly compiling showlists early this week. Last week was mixed, with...

LEM24 : 178.250s (+0.04%)
LEQ24 : 176.525s (+0.23%)
LEV24 : 179.700s (+0.20%)
GFK24 : 243.150s (-0.05%)
GFQ24 : 255.875s (+0.08%)
GFU24 : 256.950s (+0.13%)
Hogs Close Tuesday with Strength

Lean hogs saw some gains to round up the Tuesday session, up 7 to 87 cents across the board. USDA’s National Average Base Hog negotiated price was up $1.05 in the Tuesday afternoon print at $90.83. The...

HEM24 : 97.500s (-0.84%)
HEN24 : 100.875s (-0.05%)
HEQ24 : 100.025s (+0.13%)
Shootin' the Bull about Polar opposites

Polar opposites in the basis of fats and feeders.  In fats, it's $9.00 positive and in the feeders $14.00 negative.  How is buying feeder cattle futures at a premium and selling fat futures at a discount...

Can the Meats Rally During the Peak Season in 2024?

The annual grilling season, when beef and pork demand tend to peak, begins in a few short weeks at the end of May on the Memorial Day weekend. Cattle prices remain near record highs, and hog futures have...

LEM24 : 178.250s (+0.04%)
GFQ24 : 255.875s (+0.08%)
HEM24 : 97.500s (-0.84%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 245.492
2nd Resistance Point 244.733
1st Resistance Point 243.942
Last Price 243.150s
1st Support Level 242.392
2nd Support Level 241.633
3rd Support Level 240.842

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52-Week High 276.125
Fibonacci 61.8% 253.415
Fibonacci 50% 246.400
Last Price 243.150s
Fibonacci 38.2% 239.385
52-Week Low 216.675

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