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Feeder Cattle Oct '23 (GFV23)
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Feeder Cattle Futures Market News and Commentary

Cattle Falling Triple Digits

The feeder cattle futures market is down by nearly 2% across the active months. Sep contracts are $1 in the red to $5 losses in the other nearby contracts. Fat cattle are also weaker through Tuesday, with $2 losses of 1.2%. USDA reported limited cash sales for Monday, as last week’s market was mostly $185-$186 in the North and mostly $183 for the South. The CME Feeder Cattle Index was up 83 cents to $254.06 on 9/22. 

Cold Storage data from Monday afternoon showed 421.63 million lbs of beef stocks in the US as of August 31. That was a 17.94% drop vs. last year and up 2.72% from last month’s revised total.

USDA’s Wholesale Boxed Beef prices from Monday afternoon were mixed with a $1.85 drop in Choice and a 2 cent increase for Select. USDA estimates Monday’s FI cattle slaughter at 127k head. That was 6k more than last week, and was up 4k from the same week last year. 

Oct 23 Cattle  are at $185.300, down $1.675,

Dec 23 Cattle  are at $189.025, down $2.200,

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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
$3,465/3,150
First Notice Date
10/26/23 (30 days)
Expiration Date
10/26/23 (30 days)

Seasonal Chart

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

Commitment of Traders Positions as of Sep 19, 2023

View Chart Details
Commercials - Long / Short
13,646 (-178)
15,910 (+658)
Non-Commercials - Long / Short
23,724 (+448)
11,462 (+105)
Producers - Long / Short
9,693 (-500)
11,660 (-167)
Swap Dealers - Long / Short
1,666 (+16)
1,963 (+519)
Managed Money - Long / Short
20,237 (-206)
4,594 (+123)
Other Reportables - Long / Short
3,487 (+654)
6,868 (-18)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
252.850 +0.47%
on 09/05/23
264.675 -4.01%
on 09/15/23
+0.075 (+0.03%)
since 08/25/23
3-Month
242.000 +4.98%
on 06/27/23
264.675 -4.01%
on 09/15/23
+13.950 (+5.81%)
since 06/26/23

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HEV23 : 81.600 (+0.09%)
HEZ23 : 72.400 (-0.17%)
KMV23 : 92.250 (-0.54%)
Cattle Falling Triple Digits

The feeder cattle futures market is down by nearly 2% across the active months. Sep contracts are $1 in the red to $5 losses in the other nearby contracts. Fat cattle are also weaker through Tuesday, with...

LEV23 : 184.950 (-1.08%)
LEZ23 : 188.575 (-1.39%)
LEG24 : 193.175 (-1.39%)
LEY00 : 183.000s (unch)
GFU23 : 252.525 (-0.53%)
GFV23 : 253.875 (-1.91%)
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Cattle Closed Mixed on Monday

Cattle went home with mixed results following the Cattle on Feed report. The ’23 contracts were down by 10 to 12 cents, while the ’24 contracts closed up by as much as 35 cents. The feeders were 22...

LEV23 : 184.950 (-1.08%)
LEZ23 : 188.575 (-1.39%)
LEG24 : 193.175 (-1.39%)
GFU23 : 252.525 (-0.53%)
GFV23 : 253.875 (-1.91%)
Cattle Closed Mixed on Monday

Cattle went home mixed on the first trade day of the week. The ’23 contracts were down by 10 to 12 cents, while the ’24 contracts closed up by as much as 35 cents. The feeders were 22 to 82 cents weaker...

LEV23 : 184.950 (-1.08%)
LEZ23 : 188.575 (-1.39%)
LEG24 : 193.175 (-1.39%)
GFU23 : 252.525 (-0.53%)
GFV23 : 253.875 (-1.91%)
Hogs Rebounded Out of the Weekend

After the hard drop to end last week, Monday’s hog trade ended off the highs but still up 35 to 75 cents on the day. USDA’s National Average Base Hog price was a nickel weaker to $77.54. The CME Lean...

HEV23 : 81.600 (+0.09%)
HEG24 : 75.875 (-0.30%)
KMV23 : 92.250 (-0.54%)
Hogs rebound

Hogs make low and bounce in lackluster trade

Cold Storage

Cold Storage - 2023-09-25

FCX23 : 262.700s (-0.31%)
GFX23 : 256.950 (-2.19%)
LCZ23 : 191.225s (-0.07%)
LEZ23 : 188.575 (-1.39%)
LHZ23 : 72.525s (+0.48%)
HEZ23 : 72.400 (-0.17%)
YKX23 : 16,625s (-1.31%)
BDU23 : 273.0000 (+0.50%)
OJX23 : 349.40 (+2.95%)
Mixed Cattle Market through Monday

Midday fat cattle futures are mixed within 10 cents of UNCH through the 2024 contracts. The 2023 Oct and Dec futures are down by 45 and 32 cents in the red. Midday feeders are trading $0.22 to $1.10 weaker...

LEV23 : 184.950 (-1.08%)
LEZ23 : 188.575 (-1.39%)
LEG24 : 193.175 (-1.39%)
LEY00 : 183.000s (unch)
GFU23 : 252.525 (-0.53%)
GFV23 : 253.875 (-1.91%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 262.933
2nd Resistance Point 261.242
1st Resistance Point 260.033
Last Price 253.875
1st Support Level 257.133
2nd Support Level 255.442
3rd Support Level 254.233

See More

52-Week High 264.675
Last Price 253.875
Fibonacci 61.8% 240.389
Fibonacci 50% 232.887
Fibonacci 38.2% 225.386
52-Week Low 201.100

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