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Live Cattle Jun '24 (LEM24)
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Live 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
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
06/10/24 (101 days)
Expiration Date
06/28/24 (119 days)

Seasonal Chart

Live Cattle Jun '24
Average Price Chart for 5 Prior Jun Contracts

Commitment of Traders Positions as of Feb 27, 2024

View Chart Details
Commercials - Long / Short
105,811 (-712)
166,276 (+2,627)
Non-Commercials - Long / Short
114,745 (+8,270)
48,746 (+4,151)
Producers - Long / Short
51,008 (-745)
161,915 (+2,184)
Swap Dealers - Long / Short
53,029 (-35)
2,587 (+375)
Managed Money - Long / Short
80,985 (+6,571)
22,013 (+1,802)
Other Reportables - Long / Short
33,760 (+1,699)
26,733 (+2,349)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
179.825 +2.32%
on 02/15/24
184.825 -0.45%
on 02/27/24
+2.875 (+1.59%)
since 02/01/24
3-Month
162.750 +13.06%
on 12/06/23
184.825 -0.45%
on 02/27/24
+16.450 (+9.82%)
since 12/01/23
52-Week
162.750 +13.06%
on 12/06/23
194.025 -5.17%
on 09/15/23
+16.450 (+9.82%)
since 03/01/23

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ZLH24 : 44.62s (-0.09%)
ZMK24 : 332.3s (+0.94%)
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...

Fats and Oils

Fats and Oils - 2024-03-01

ZCK24 : 424-6s (-1.11%)
ZSK24 : 1151-2s (+0.92%)
XSK24 : 3,587s (+1.50%)
XTK24 : 4,524s (+0.35%)
XVK24 : 2,464s (+0.33%)
ZMK24 : 332.3s (+0.94%)
ZLK24 : 45.16s (-0.11%)
XUK24 : 3,049s (+0.93%)
XXK24 : 7,390s (+0.93%)
RSK24 : 590.80s (-0.49%)
KOK24 : 3,966s (-0.10%)
YHK24 : 7,520s (+1.02%)
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 (-0.63%)
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%)
Cattle Futures to Close the Week and Start the Month

The live cattle market ended the last trade day of the month with 60 to 95 cent losses. Despite that, April was still up by a net $4.65 for the month’s move. Feb cattle expired at $184 flat. Feeder cattle...

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%)
Cattle Continued Fading into Month’s End

The live cattle market ended the last trade day of the month with 60 to 95 cent losses. Despite that, April was still up by a net $4.65 for the month’s move. Feb cattle expired at $184 flat. Feeder cattle...

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%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 187.892
2nd Resistance Point 185.983
1st Resistance Point 184.992
Last Price 184.000s
1st Support Level 182.092
2nd Support Level 180.183
3rd Support Level 179.192

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52-Week High 194.025
Last Price 184.000s
Fibonacci 61.8% 182.078
Fibonacci 50% 178.387
Fibonacci 38.2% 174.697
52-Week Low 162.750

See More

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