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Feeder Cattle Aug '23 (GFQ23)
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Feeder Cattle Futures Market News and Commentary

Cattle Close Red on Thursday

Cattle futures were attempting to recover from the midweek session early, but ultimately added to the drop with $0.90 to $1 losses. June fats were the firmest, going home only 22 cents in the red. Cash trade this week was $188-$194 in the North. Thursday’s feeder cattle market closed with futures $0.45 to $1.22 in the red. The CME Feeder Cattle Index was $219.28 on 6/6 after another 63 cent increase. 

USDA reported 12,820 MT of beef was booked for export during the week that ended 6/1. That was a 29% drop from last week’s sale. Exports were shown at 15,352 MT for the week for a season’s total of 348,292 MT. Converted Census data has official beef exports through April at 1.047 billion pounds, with 267.6m lbs for the month.  

Wholesale Boxed Beef prices for Thursday afternoon were shown at $328.73 for Choice and $304.10 for Select. That was a $3.54 increase in Choice and a $2.54 bump in Select. USDA estimated FI cattle slaughter for the week through Thursday at 495k head.... 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
$3,315/2,850
First Notice Date
08/31/23 (84 days)
Expiration Date
08/31/23 (84 days)

Seasonal Chart

Feeder Cattle Aug '23
Average Price Chart for 5 Prior Aug Contracts

Commitment of Traders Positions as of May 30, 2023

View Chart Details
Commercials - Long / Short
14,108 (-1,462)
18,903 (+287)
Non-Commercials - Long / Short
27,689 (+1,413)
12,678 (-135)
Producers - Long / Short
9,494 (-1,318)
14,872 (+745)
Swap Dealers - Long / Short
1,513 (+52)
930 (-262)
Managed Money - Long / Short
22,908 (+386)
6,446 (-89)
Other Reportables - Long / Short
4,781 (+1,027)
6,232 (-46)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
223.125 +6.96%
on 05/09/23
245.175 -2.66%
on 06/07/23
+15.550 (+6.97%)
since 05/08/23
3-Month
213.025 +12.03%
on 03/15/23
245.175 -2.66%
on 06/07/23
+18.950 (+8.63%)
since 03/08/23

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Most Recent Stories

More News
July Hog Futures Held Firm

Most of the nearby lean hog futures closed in the red on Thursday, with losses from 2 cents in June to $1.30 in October. July contracts however stayed in the black and ended the day up by 27 cents. July...

HEM23 : 87.675s (-0.03%)
HEQ23 : 82.425s (-0.81%)
KMM23 : 88.700s (-0.45%)
Cattle Close Red on Thursday

Cattle futures were attempting to recover from the midweek session early, but ultimately added to the drop with $0.90 to $1 losses. June fats were the firmest, going home only 22 cents in the red. Cash...

LEM23 : 178.775s (-0.13%)
LEQ23 : 172.250s (-0.55%)
LEV23 : 174.700s (-0.53%)
GFQ23 : 238.650s (-0.19%)
GFU23 : 241.475s (-0.33%)
Shootin' the Bull about accomplishments

I think a great deal has been accomplished this week.  The higher price paid by some may well be the last time they pay that much.  As well, those that did buy, may not need to come back to the market...

Mixed but Mostly Weaker Thursday for Hogs

So far through Thursday the hog market is down 45 cents to $1.10. July contracts are the exception with a midday gain of 20 cents. USDA’s National Average Base Hog price was $1.63 stronger to $94.07....

HEM23 : 87.675s (-0.03%)
HEQ23 : 82.425s (-0.81%)
KMM23 : 88.700s (-0.45%)
Cattle Firming Back Up on Thursday

Following the midweek cooldown, cattle futures are back up by 2 to 70 cents. June contracts are leading the way to stay true to the cash market strength during the delivery period. USDA confirmed sales...

LEM23 : 178.775s (-0.13%)
LEQ23 : 172.250s (-0.55%)
LEV23 : 174.700s (-0.53%)
GFQ23 : 238.650s (-0.19%)
GFU23 : 241.475s (-0.33%)
Hog Market Up for the Week through Wednesday

The front month hog futures market dropped as much as $2.17. June stayed relatively firm with a 60 cent drop. July contracts are still at a net $2.27 gain for the week’s move. USDA’s National Average...

HEM23 : 87.675s (-0.03%)
HEQ23 : 82.425s (-0.81%)
KMM23 : 88.700s (-0.45%)
Midweek Drop Followed New Cattle Highs

Cattle futures cooled off for the midweek session, ending down by $2.30 to $2.82. June fats were the exception with an 82 cent drop. The Merc showed Dec 7th was the oldest dated long for June cattle, with...

LEM23 : 178.775s (-0.13%)
LEQ23 : 172.250s (-0.55%)
LEV23 : 174.700s (-0.53%)
GFQ23 : 238.650s (-0.19%)
GFU23 : 241.475s (-0.33%)
Hogs Drop Triple Digits

The front month hog futures market dropped as much as $2.17. June stayed relatively firm with a 60 cent drop. July contracts are still at a net $2.27 gain for the week’s move. USDA’s National Average...

HEM23 : 87.675s (-0.03%)
HEQ23 : 82.425s (-0.81%)
KMM23 : 88.700s (-0.45%)
Triple Digit Losses for Cattle Market

Cattle futures cooled off for the midweek session, ending down by $2.30 to $2.82. June fats were the exception with an 82 cent drop. The merc showed Dec 7th was the oldest dated long for June cattle, with...

LEM23 : 178.775s (-0.13%)
LEQ23 : 172.250s (-0.55%)
LEV23 : 174.700s (-0.53%)
GFQ23 : 238.650s (-0.19%)
GFU23 : 241.475s (-0.33%)
Shootin' the Bull about a reversal?

Well, now what? Whether a push back in price, profit taking decline, or the top, the most recent higher cash may start to increase the attempts to thwart price.  It is anticipated for the grocer to pass...

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 243.008
2nd Resistance Point 241.917
1st Resistance Point 240.283
Last Price 238.650s
1st Support Level 237.558
2nd Support Level 236.467
3rd Support Level 234.833

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52-Week High 245.175
Last Price 238.650s
Fibonacci 61.8% 225.569
Fibonacci 50% 219.513
Fibonacci 38.2% 213.456
52-Week Low 193.850

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