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Feeder Cattle May '24 (GFK24)

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Feeder Cattle Futures Market News and Commentary

Cattle Rally in Unison with Boxed Beef

Live cattle posted Thursday gains of a nickel to 92 cents, as boxed beef price continue to rally ahead of Memorial Day. Cash action has been quiet this week, with USDA reporting a few in the WCB at $186-190 on Thursday. The Central Stockyards Fed Cattle Exchange saw no bids or sales on the 1,352 head listed this morning, with asks in the $185-186 range. Feeders settled the Thursday session with contracts up 95 cents to $1.70.  The CME Feeder Cattle index was up 54 cents on May 15 to $242.33.

Weekly Export Sales data showed 15,132 MT of beef sold in the week ending on May 9, up 22.66% from the previous week. Shipments were tallied at a total of 15,589 MT in that week, a wk/wk decline of 4.01%.

USDA’s Wholesale Boxed Beef prices continued to shoot higher in the Thursday afternoon report. Choice boxes were up another $3.38 at $310.15, with Select $2.20 higher to $296.51. That raised the Chc/Sel spread to $13.64. USDA estimated federally inspected cattle slaughter at 124,000... 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 (7 days)
Expiration Date
05/23/24 (7 days)

Seasonal Chart

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

Commitment of Traders Positions as of May 7, 2024

View Chart Details
Commercials - Long / Short
15,563 (+157)
9,544 (-811)
Non-Commercials - Long / Short
12,803 (-554)
14,180 (+518)
Producers - Long / Short
11,385 (-65)
8,401 (-379)
Swap Dealers - Long / Short
3,304 (+607)
269 (-47)
Managed Money - Long / Short
9,378 (-374)
5,475 (+352)
Other Reportables - Long / Short
3,425 (-180)
8,705 (+166)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
237.400 +3.14%
on 05/10/24
249.700 -1.94%
on 04/29/24
+3.875 (+1.61%)
since 04/16/24
3-Month
232.625 +5.26%
on 04/12/24
263.125 -6.95%
on 02/27/24
-10.775 (-4.22%)
since 02/16/24

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Most Recent Stories

More News
Cattle Rally in Unison with Boxed Beef

Live cattle posted Thursday gains of a nickel to 92 cents, as boxed beef price continue to rally ahead of Memorial Day. Cash action has been quiet this week, with USDA reporting a few in the WCB at $186-190...

LEM24 : 179.025s (+0.43%)
LEQ24 : 177.375s (+0.48%)
LEV24 : 180.625s (+0.51%)
GFK24 : 244.850s (+0.70%)
GFQ24 : 257.350s (+0.58%)
GFU24 : 258.400s (+0.56%)
Hogs Pull Back from Highs, Still Close with Gains

Lean hogs faded off of some of the midday strength, but still found solid ground to post 5 to 87 cent higher trade. USDA’s National Average Base Hog negotiated price was up 60 cents on Thursday afternoon...

HEM24 : 98.375s (+0.90%)
HEN24 : 101.625s (+0.74%)
HEQ24 : 100.800s (+0.77%)
Corn Futures Test Significant Support, Will it Hold?

Corn futures have been under pressure for the last three sessions after failing against resistance to start the week. Will support hold into the weekend or will the selling persist?

Cattle Leading with Triple Digit Gains

Live cattle are trading the Thursday session with $1 to $1.20 gains across most contracts at midday. Cash action has been quiet this week. The Central Stockyards Fed Cattle Exchange saw no bids or sales...

LEM24 : 179.025s (+0.43%)
LEQ24 : 177.375s (+0.48%)
LEV24 : 180.625s (+0.51%)
GFK24 : 244.850s (+0.70%)
GFQ24 : 257.350s (+0.58%)
GFU24 : 258.400s (+0.56%)
Hogs Rallying on Thursday

Lean hogs are posting a $1.02 to $1.45 rally in the front months on Thursday. USDA’s National Average Base Hog negotiated price was up 40 cents on Thursday AM at 89.36. The CME Lean Hog Index was back...

HEM24 : 98.375s (+0.90%)
HEN24 : 101.625s (+0.74%)
HEQ24 : 100.800s (+0.77%)
Are cattle futures setting up for a breakout?

Cattle futures perked up in yesterday’s trade and are knocking on the door of a breakout. These are the levels to keep an eye on in today’s trade.

Cattle Look to Thursday After Midweek Strength

Live cattle posted Wednesday gains of 7 to 40 cents across the board, following more boxed beef strength. Cash action has been quiet this week. The Central Stockyards Fed Cattle Exchange saw no sales...

LEM24 : 179.025s (+0.43%)
LEQ24 : 177.375s (+0.48%)
LEV24 : 180.625s (+0.51%)
GFK24 : 244.850s (+0.70%)
GFQ24 : 257.350s (+0.58%)
GFU24 : 258.400s (+0.56%)
Hogs Ready to Kick Off Thursday Trade

Lean hogs settled the Wednesday session on a mixed note, as front months were down 5 to 82 cents, with the other 24 contracts steady to 27 cents higher. USDA’s National Average Base Hog negotiated price...

HEM24 : 98.375s (+0.90%)
HEN24 : 101.625s (+0.74%)
HEQ24 : 100.800s (+0.77%)
Grain Markets: Will Global Production Issues Continue to Push Wheat Prices Higher?

In my interview today with Michelle Rook on AgWeb's Markets Now I spoke about the recent move higher in wheat, soybean, and corn prices. I also discussed crude oil, interest rates, and the cattle markets....

ZWK24 : 657-0s (-1.98%)
ZSN24 : 1216-2s (+0.23%)
ZCK24 : 453-6s (-1.04%)
LEM24 : 179.025s (+0.43%)
Shootin' the Bull about more beef and fewer cattle

Of the most interest is that we are currently producing more beef than last year with fewer cattle.  Of everything you can mention that has created this, you are correct.  It's taken everything possible...

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 247.908
2nd Resistance Point 246.717
1st Resistance Point 245.783
Last Price 244.850s
1st Support Level 243.658
2nd Support Level 242.467
3rd Support Level 241.533

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52-Week High 276.125
Fibonacci 61.8% 253.415
Fibonacci 50% 246.400
Last Price 244.850s
Fibonacci 38.2% 239.385
52-Week Low 216.675

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