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Live Cattle Jun '23 (LEM23)

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Live Cattle Futures Market News and Commentary

Cattle Looks to Wednesday Trade Following Inventory Report

Nearby cattle settled mixed but mostly lower and within 40 cents of UNCH on pre-report positioning. The feeder cattle market was up by triple digits ahead of the Inventory report, led by a 1.21% gain in March. USDA has little to no cash trade to report so far this week, maintaining $156 as last week’s market for the South and $248 for the Northern dressed market. The 1/30 CME Feeder Cattle Index was $180.42, up by 54 cents. 

The semi-annual NASS cattle inventory counted 89.274m head on Jan 1. That was a 3% drop from last year’s inventory. Beef cows were 4% lower yr/yr with 28.92m head, but replacement heifers were down by a sharp 5.8% yr/yr to 5.164m head. The calf crop was reported at 34.464 million head compared to 35.166 last year. 

Wholesale Boxed Beef prices were mixed in the Tuesday PM report, with Choice down $2.01 and Select up $1.40. That dropped the Chc/Sel spread to $13.17. USDA estimated FI cattle slaughter at 248,000 head WTD through Tuesday, after a 5,000 h... 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
$1,760/1,600
First Notice Date
06/05/23 (124 days)
Expiration Date
06/30/23 (149 days)

Seasonal Chart

Live Cattle Jun '23
Average Price Chart for 5 Prior Jun Contracts

Commitment of Traders Positions as of Jan 24, 2023

View Chart Details
Commercials - Long / Short
96,720 (+1,685)
159,543 (-3,201)
Non-Commercials - Long / Short
117,249 (-9,488)
51,021 (-1,573)
Producers - Long / Short
43,196 (+4,605)
149,202 (-1,545)
Swap Dealers - Long / Short
45,848 (-1,501)
2,665 (-237)
Managed Money - Long / Short
101,745 (-8,691)
26,580 (+765)
Other Reportables - Long / Short
15,504 (-797)
24,441 (-2,338)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
155.575 +1.93%
on 01/19/23
159.750 -0.74%
on 01/31/23
+0.750 (+0.48%)
since 12/30/22
3-Month
152.775 +3.80%
on 11/16/22
159.750 -0.74%
on 01/31/23
+4.300 (+2.79%)
since 11/01/22
52-Week
144.325 +9.87%
on 02/24/22
159.750 -0.74%
on 01/31/23
+13.275 (+9.14%)
since 02/01/22

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Most Recent Stories

More News
Livestock Rundown (Video)

Blue Line's look into the livestock markets.

Hogs Futures Look to Find Footing

Lean hog futures ended the Tuesday session mostly lower, except for the May contract which was up by 40 cents. The other front months were down by 10 to 30 cents at the bell. USDA’s National Average...

HEG23 : 74.950 (+0.10%)
HEK23 : 93.450 (-2.07%)
KMG23 : 82.750s (-0.21%)
Cattle Looks to Wednesday Trade Following Inventory Report

Nearby cattle settled mixed but mostly lower and within 40 cents of UNCH on pre-report positioning. The feeder cattle market was up by triple digits ahead of the Inventory report, led by a 1.21% gain in...

LEG23 : 158.725 (-0.08%)
LEJ23 : 162.500 (-0.32%)
LEM23 : 158.700 (-0.28%)
GFH23 : 183.725 (-1.30%)
GFJ23 : 188.100 (-1.03%)
Where's the Beef (Demand)?

The US beef market continues to get more complicated as boxed beef prices fall and cast cattle prices continue to rise, all while global demand is being called into question.

LEG23 : 158.725 (-0.08%)
LEY00 : 156.000s (unch)
Hogs Pull Back on Tuesday

Lean hog futures ended the Tuesday session mostly lower, except for the May contract which was up by 40 cents. The other front months were down by 10 to 30 cents at the bell. USDA’s National Average...

HEG23 : 74.950 (+0.10%)
HEK23 : 93.450 (-2.07%)
KMG23 : 82.750s (-0.21%)
Cattle Close Mixed for NASS Numbers

Nearby cattle traded in a mostly tight range, and settled mixed but mostly lower within 40 cents of UNCH for pre-report positioning. The feeder cattle market was up by triple digits ahead of the report,...

LEG23 : 158.725 (-0.08%)
LEJ23 : 162.500 (-0.32%)
LEM23 : 158.700 (-0.28%)
GFH23 : 183.725 (-1.30%)
GFJ23 : 188.100 (-1.03%)
Livestock Report

Cattle makes new high and feeders rally

Hog Commentary

Hog markets were lower today with another session of wide ranges. Although the high of the day was the opening price, the market bounced off of it’s lows to settle at 86.425 for the April contract. The...

Cattle Inventory Report Snapshot

All cattle and calves in the United States as of January 1, 2023 totaled 89.3 million head, 3 percent below the 92.1 million head on January 1, 2022.

Agricultural Prices

Agricultural Prices - 2023-01-31

ZSH23 : 1520-4 (-1.14%)
ZSPAUS.CM : 14.8144 (-1.03%)
ZSBAUS.CM : -0.3905 (+4.99%)
ZSDAUS-BIW.CM : 4,765,538 (+0.08%)
ZSYAUS-BIW.CM : 52.96 (+0.11%)
XSH23 : 5,063s (+0.74%)
XTK23 : 5,516s (-0.27%)
ZCH23 : 676-0 (-0.55%)
ZCPAUS.CM : 6.7872 (-0.23%)
ZCBAUS.CM : 0.0271 (+411.32%)
XVH23 : 2,859s (-1.07%)
XEH23 : 89.30 (+0.34%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 160.317
2nd Resistance Point 160.033
1st Resistance Point 159.592
Last Price 158.725
1st Support Level 158.867
2nd Support Level 158.583
3rd Support Level 158.142

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52-Week High 159.750
Last Price 158.725
Fibonacci 61.8% 153.858
Fibonacci 50% 152.038
Fibonacci 38.2% 150.217
52-Week Low 144.325

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