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Feeder Cattle May '24 (GFK24)

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Feeder Cattle Futures Market News and Commentary

Cattle Recovering From Wednesday’s Overreaction

Live cattle are up 80 cents to $1.12 so far at midday. A few cash sales have been reported in the South at $182 in TX and $182-183 in KS, even to $1 above a week ago. Northern trade has been unestablished, with bids of $183 reported.  Feeders are trading 35 ents to $1.70 higher on the session. The CME Feeder Cattle index was back down 58 cents on April 23 to $243.64. 

USDA issued an order requiring that lactating dairy cows be tested before moving across state lines on Wednesday, sending the market into a drop. 

Export Sales data release this morning showed 15,210 MT of beef sold for 2024 delivery in the week of 4/18. Actual shipments were 13,817 MT, a 3-week low.

USDA’s Wholesale Boxed Beef prices were mixed in Thursday morning report. Choice boxes were $1.68 higher to $297.42, with Select down 42 cents at $290.00. That took the Chc/Sel spread back up to $7.42. USDA estimated cattle slaughter at 125,000 head for Wednesday, taking this week’s total to 363,000 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
$4,537/4,125
First Notice Date
05/23/24 (28 days)
Expiration Date
05/23/24 (28 days)

Seasonal Chart

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

Commitment of Traders Positions as of Apr 16, 2024

View Chart Details
Commercials - Long / Short
15,614 (+328)
9,828 (-573)
Non-Commercials - Long / Short
13,756 (+106)
15,176 (+1,297)
Producers - Long / Short
11,361 (+264)
8,093 (-462)
Swap Dealers - Long / Short
2,891 (+134)
373 (-41)
Managed Money - Long / Short
10,468 (-661)
6,287 (+1,177)
Other Reportables - Long / Short
3,288 (+767)
8,889 (+120)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
232.625 +5.52%
on 04/12/24
252.800 -2.90%
on 03/26/24
-7.150 (-2.83%)
since 03/25/24
3-Month
232.625 +5.52%
on 04/12/24
263.125 -6.71%
on 02/27/24
-3.775 (-1.51%)
since 01/25/24

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Most Recent Stories

More News
Cattle Recovering From Wednesday’s Overreaction

Live cattle are up 80 cents to $1.12 so far at midday. A few cash sales have been reported in the South at $182 in TX and $182-183 in KS, even to $1 above a week ago. Northern trade has been unestablished,...

LEJ24 : 183.475 (+0.76%)
LEM24 : 176.525 (+0.73%)
LEQ24 : 174.725 (+0.78%)
GFJ24 : 244.875 (+0.73%)
GFK24 : 245.250 (+0.47%)
GFQ24 : 257.125 (+0.32%)
Hogs Retreat Lower on Thursday

Lean hogs are down anywhere from 42 cents in the back months to $2.47 in the nearbys on Thursday. USDA’s National Average Base Hog negotiated price was down $2.45 on Thursday morning, at $88.58. The...

HEK24 : 95.375 (-2.03%)
HEM24 : 104.875 (-2.40%)
HEN24 : 107.750 (-1.91%)
USDA Shows Slight Build to Pork Stocks

Lean hogs closed the midweek session with contracts a dime to $1.22 lower, as August was the lone exception, up a nickel. USDA’s National Average Base Hog negotiated price was down 36 cents on Wednesday...

HEK24 : 95.375 (-2.03%)
HEM24 : 104.875 (-2.40%)
HEN24 : 107.750 (-1.91%)
Cattle Look to Thursday Trade Following Midweek Drop on H5N1 Virus News

Live cattle ended the day with weakness, as contracts were down $1.20 to $2.12 on Wednesday. Yesterday morning’s Fed Cattle Exchange auction saw no sales on the 894 head listed, with bids of $181 and...

LEJ24 : 183.475 (+0.76%)
LEM24 : 176.525 (+0.73%)
LEQ24 : 174.725 (+0.78%)
GFJ24 : 244.875 (+0.73%)
GFK24 : 245.250 (+0.47%)
GFQ24 : 257.125 (+0.32%)
Will Wheat, Soybean, and Corn Prices Continue to Rally? Or is This Just Short Covering?

I discussed the recent action in the wheat, soybean, and corn markets on AgWeb's Market's Now with Michelle Rook today. We also talked about the cattle markets and gold.

ZWK24 : 603-2 (+1.47%)
ZSK24 : 1160-6 (-0.45%)
ZCK24 : 440-4 (+0.63%)
LEJ24 : 183.475 (+0.76%)
GCM24 : 2,339.0 (+0.03%)
Hogs Close Mostly Lower, USDA Shows Slight Build to Pork Stocks

Lean hogs closed the midweek session with contracts a dime to $1.22 lower, as August was the lone exception, up a nickel. USDA’s National Average Base Hog negotiated price was down 36 cents on Wednesday...

HEK24 : 95.375 (-2.03%)
HEM24 : 104.875 (-2.40%)
HEN24 : 107.750 (-1.91%)
Cattle Back to Retreat Mode on H5N1 Virus News

Live cattle ended the day with weakness, as contracts were down $1.20 to $2.12 on Wednesday. This morning’s Fed Cattle Exchange auction saw no sales on the 894 head listed, with bids of $181 and asks...

LEJ24 : 183.475 (+0.76%)
LEM24 : 176.525 (+0.73%)
LEQ24 : 174.725 (+0.78%)
GFJ24 : 244.875 (+0.73%)
GFK24 : 245.250 (+0.47%)
GFQ24 : 257.125 (+0.32%)
Pure Hedge - Livestock and Grain

Wild Markets on the Horizon

Shootin' the Bull about a lot to consider

No rest for the weary in this market.  Nellie is nervous and with the continual issues of the bird flu being examined, there is likely to be more restraints placed until we can get a handle on this issue....

Broiler Hatchery

Broiler Hatchery - 2024-04-24

Z8Y00 : 116.50s (unch)
WDU24 : 3,823s (+0.26%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 249.817
2nd Resistance Point 248.233
1st Resistance Point 246.167
Last Price 245.525
1st Support Level 242.517
2nd Support Level 240.933
3rd Support Level 238.867

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52-Week High 276.125
Fibonacci 61.8% 253.415
Fibonacci 50% 246.400
Last Price 245.525
Fibonacci 38.2% 239.385
52-Week Low 216.675

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