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Feeder Cattle Jan '24 (GFF24)
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Feeder Cattle Futures Market News and Commentary

Friday Gains in Cattle Futures

Feeder cattle prices led the way higher on Friday, ending up by as much as 1.7%. Despite the strong finish to the week, March feeders were still down $1.60 wk/wk. Fat cattle rallied $1.50 to $3.10 on the day, pushing the April contract to a net 55 cent gain for the week. August cattle futures remained at a net 30 cent loss for the week’s move. USDA confirmed light Friday cash action near $183-$184, matching the bulk of the week’s business. The CME Feeder Cattle Index was 54 cents weaker on 2/28 to $246.26. 

Weekly Commitment of Traders data showed the managed money spec traders held a 54,821 contract net long in cattle as of 2/27. That was a 4.3k contract stronger net long via net new buying through the week. The funds were also adding new longs to feeder cattle, growing their net long by 1.8k contracts to 9,991. 

USDA’s Boxed Beef prices were listed at $305.28 in Choice and $295.74 in Select on Friday afternoon. That was a $1.08 and a $1.56 increase respectively. USDA r... 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
01/25/24
Expiration Date
01/25/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Feb 27, 2024

View Chart Details
Commercials - Long / Short
15,253 (-872)
12,538 (-407)
Non-Commercials - Long / Short
17,165 (+2,298)
12,501 (+1,370)
Producers - Long / Short
11,131 (-900)
9,744 (-48)
Swap Dealers - Long / Short
2,330 (+1)
1,002 (-386)
Managed Money - Long / Short
13,005 (+2,029)
3,920 (+342)
Other Reportables - Long / Short
4,160 (+269)
8,581 (+1,028)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
221.775 +4.64%
on 12/29/23
232.350 -0.12%
on 01/25/24
+8.510 (+3.81%)
since 12/26/23
3-Month
209.150 +10.95%
on 12/04/23
242.375 -4.26%
on 11/03/23
-3.015 (-1.28%)
since 10/26/23
52-Week
209.150 +10.95%
on 12/04/23
268.500 -13.57%
on 09/15/23
+21.410 (+10.16%)
since 01/26/23

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Friday Gains in Cattle Futures

Feeder cattle prices led the way higher on Friday, ending up by as much as 1.7%. Despite the strong finish to the week, March feeders were still down $1.60 wk/wk. Fat cattle rallied $1.50 to $3.10 on the...

LEJ24 : 188.450s (+1.67%)
LEM24 : 184.000s (+1.53%)
LEQ24 : 182.700s (+1.11%)
GFH24 : 252.975s (+1.60%)
GFJ24 : 258.000s (+1.68%)
Triple Digit Rally for Friday Hog Futures

Front month lean hog futures were up by $1.32 to $1.85 on the last trade day of the week. That left the April contract at a net 87c gain for the week. USDA’s National Average Base Hog price was dropped...

HEJ24 : 88.075s (+1.67%)
HEM24 : 102.050s (+1.85%)
KMJ24 : 94.000s (+0.75%)
Shootin' the Bull about squeezing the cattle feeder

In my opinion, not a great deal has changed.  The cattle feeder is being squeezed at every turn.  Friday's higher price action is believed caused by the fires in north Texas.  With little evidence of...

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Hogs Rallying into Weekend

Lean hog futures are trading $0.82 to $1.02 higher so far across the front months. April futures were a net $1.80 higher for the month, and are sitting at a net 45c gain for the week so far. USDA’s National...

HEJ24 : 88.075s (+1.67%)
HEK24 : 92.050s (+1.46%)
KMJ24 : 94.000s (+0.75%)
Midday Cattle Working Higher

Live cattle futures are trading with triple digit gains to finish the week and begin the new month. April is up by $1.65 and August is 92 cents higher so far. Midday feeder cattle are 0.75% to 1.2% higher...

LEJ24 : 188.450s (+1.67%)
LEM24 : 184.000s (+1.53%)
LEQ24 : 182.700s (+1.11%)
LEY00 : 181.840s (unch)
GFH24 : 252.975s (+1.60%)
GFJ24 : 258.000s (+1.68%)
Hogs Closed Higher on Thursday

The bonus day for the month of Feb finished with the lean hog board 27 to 67 cents stronger. April futures were a net $1.80 higher for the month. USDA’s National Average Base Hog price was $1.02 stronger...

HEJ24 : 88.075s (+1.67%)
HEM24 : 102.050s (+1.85%)
KMJ24 : 94.000s (+0.75%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 232.060
2nd Resistance Point 232.060
1st Resistance Point 232.060
Last Price 232.060s
1st Support Level 232.060
2nd Support Level 232.060
3rd Support Level 232.060

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52-Week High 268.500
Fibonacci 61.8% 245.828
Fibonacci 50% 238.825
Last Price 232.060s
Fibonacci 38.2% 231.822
52-Week Low 209.150

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