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Live Cattle Feb '24 (LEG24)

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Live Cattle Futures Market News and Commentary

Cattle Looks to Tuesday Trade as Beef Rally Slows

Live cattle posted mixed action with contracts 50 cents lower to 42 cents higher. June futures were held up with a 42 cent gain, as futures are still $4-8 discount to cash. USDA reported cash sales of $186 in the South, up to $190 in the North last week, $2-3 higher. Feeder cattle were down 42 cents to $1.37 across most contracts, with May down a tick ahead of Thursday’s expiration.  The CME Feeder Cattle index was up $3.83 on May 17 to $246.87 and converging nicely with May FC futures.

USDA’s Wholesale Boxed Beef prices were mixed in the Monday PM report. Choice boxes were down 75 cents at $312.70, with Select $1.95 higher to $299.35. That narrowed the Chc/Sel spread to $13.35. Monday’s estimated federally inspected cattle slaughter was at 120,000 head by the USDA. That is up 4,000 head from last week but down 5,274 head below the same Monday last year. 

Jun 24 Live Cattle  closed at $181.475, up $0.425,

Aug 24 Live Cattle  closed at $178.550, down $0.500,

O... 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
02/05/24
Expiration Date
02/29/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of May 14, 2024

View Chart Details
Commercials - Long / Short
94,857 (-3,612)
132,599 (-3,194)
Non-Commercials - Long / Short
100,002 (+3,158)
55,343 (+1,974)
Producers - Long / Short
40,827 (-12)
126,705 (-1,013)
Swap Dealers - Long / Short
52,440 (-1,482)
4,304 (-63)
Managed Money - Long / Short
62,843 (+1,145)
21,123 (+179)
Other Reportables - Long / Short
37,159 (+2,013)
34,220 (+1,795)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
177.000 +3.95%
on 01/30/24
186.375 -1.27%
on 02/27/24
+6.625 (+3.74%)
since 01/29/24
3-Month
162.400 +13.30%
on 12/07/23
186.375 -1.27%
on 02/27/24
+10.525 (+6.07%)
since 11/29/23
52-Week
162.400 +13.30%
on 12/07/23
196.600 -6.41%
on 09/19/23
+13.400 (+7.85%)
since 02/28/23

More Live Cattle Quotes

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Most Recent Stories

More News
Cattle Looks to Tuesday Trade as Beef Rally Slows

Live cattle posted mixed action with contracts 50 cents lower to 42 cents higher. June futures were held up with a 42 cent gain, as futures are still $4-8 discount to cash. USDA reported cash sales of...

LEM24 : 183.025 (+0.85%)
LEQ24 : 180.325 (+0.99%)
LEV24 : 183.100 (+0.70%)
GFK24 : 248.600 (+0.77%)
GFQ24 : 259.625 (+0.44%)
GFU24 : 260.875 (+0.47%)
Hog Traders Switch Focus to Tuesday

Lean hogs saw mixed action to close out the Monday session with contracts 15 to 60 cents higher and the summer contracts down a dime to 27 cents. USDA’s National Average Base Hog negotiated price down...

HEM24 : 96.300 (-0.64%)
HEN24 : 99.175 (-0.78%)
HEQ24 : 98.375 (-0.83%)
Wheat Is Holding 23.6%, Hogs Hit 61.8% Target

You only have to look at the chart below to see how well the market adheres to the Fibonacci retracements.

ZWN24 : 693-4 (+0.69%)
HEM24 : 96.300 (-0.64%)
Cattle Feeling Weaker on Monday as Beef Rally Slows

Live cattle posted mixed action with contracts 50 cents lower to 42 cents higher. June futures were held up with a 42 cent gain, as futures are still $4-8 discount to cash. USDA reported cash sales of...

LEM24 : 183.025 (+0.85%)
LEQ24 : 180.325 (+0.99%)
LEV24 : 183.100 (+0.70%)
GFK24 : 248.600 (+0.77%)
GFQ24 : 259.625 (+0.44%)
GFU24 : 260.875 (+0.47%)
Hogs Close Mixed on Monday

Lean hogs saw mixed action to close out the Monday session with contracts 15 to 60 cents higher and the summer contracts down a dime to 27 cents. USDA’s National Average Base Hog negotiated price down...

HEM24 : 96.300 (-0.64%)
HEN24 : 99.175 (-0.78%)
HEQ24 : 98.375 (-0.83%)
Hogs Make New Low

Hogs make new low but end day higher

Shootin' the Bull about further rationing

Rationing was stepped up last week as packers cut the slaughter pace again, sending boxes to over $314.00 as of mid-day today.  Rationing will continue until more cattle are made available to produce...

Hogs Steady at Midday

Lean hogs are trading with front months 17 cents higher to 32 cents lower on Monday. USDA’s National Average Base Hog negotiated price not reported on Monday morning due to light volume, with the 5-day...

HEM24 : 96.300 (-0.64%)
HEN24 : 99.175 (-0.78%)
HEQ24 : 98.375 (-0.83%)
Cattle Mixed on Monday

Live cattle are trading with mixed action on Monday, as contracts are anywhere from 55 cent higher to 15 cents lower across the front months. USDA reported cash sales of $186 in the South, up to $190 in...

LEM24 : 183.025 (+0.85%)
LEQ24 : 180.325 (+0.99%)
LEV24 : 183.100 (+0.70%)
GFK24 : 248.600 (+0.77%)
GFQ24 : 259.625 (+0.44%)
GFU24 : 260.875 (+0.47%)
Are Cattle Futures Prices on the Verge of a Breakout?

Cattle futures prices have largely been consolidating over the last month but appear to be on the verge of a technical breakout ahead of what is viewed as a seasonally friendly time of year.

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 187.967
2nd Resistance Point 186.383
1st Resistance Point 185.192
Last Price 184.000s
1st Support Level 182.417
2nd Support Level 180.833
3rd Support Level 179.642

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52-Week High 196.600
Last Price 184.000s
Fibonacci 61.8% 183.536
Fibonacci 50% 179.500
Fibonacci 38.2% 175.464
52-Week Low 162.400

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