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Feeder Cattle Mar '24 (GFH24)
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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
03/28/24 (25 days)
Expiration Date
03/28/24 (25 days)

Seasonal Chart

Feeder Cattle Mar '24
Average Price Chart for 5 Prior Mar 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
242.125 +4.48%
on 02/06/24
254.900 -0.76%
on 02/26/24
+8.100 (+3.31%)
since 02/01/24
3-Month
210.625 +20.11%
on 12/07/23
254.900 -0.76%
on 02/26/24
+35.750 (+16.46%)
since 12/01/23

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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%)
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%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 258.108
2nd Resistance Point 255.592
1st Resistance Point 254.283
Last Price 252.975s
1st Support Level 250.458
2nd Support Level 247.942
3rd Support Level 246.633

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52-Week High 270.100
Last Price 252.975s
Fibonacci 61.8% 247.381
Fibonacci 50% 240.363
Fibonacci 38.2% 233.344
52-Week Low 210.625

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