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Feeder Cattle Mar '24 (GFH24)
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Feeder Cattle Futures Market News and Commentary

Cattle Set New Highs for the Move on Thursday

Cattle futures were back to challenging the 61.8% retracement from their LoC highs to the Dec low on Thursday. The board settled off the session highs, but still triple digits higher with gains of as much as $1.77. Front month feeder cattle were also higher on Thursday, closing up by as much as $1.30. USDA confirmed some light cash business on Thursday near $179 in the WCB. The CME Feeder Cattle Index was $1.49 higher on 2/7, now at $242.11.

Weekly Export Sales had 20.6k MT of beef booked during the week that ended 2/1. That was a 24% increase from the week prior led by sales to South Korea and China. Beef shipments for the week were shown at 16k MT for a 69.5k MT yearly pace – compared to 75k MT last year. 

The WASDE update showed a 75 million lb increase for beef production in 2024 to 26.185 billion lbs. They pushed 110 million lbs from the first half of the year to the second half and added another 75 million lbs mainly to Q4.

USDA’s Wholesale Boxed Beef prices... 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
03/28/24 (49 days)
Expiration Date
03/28/24 (49 days)

Seasonal Chart

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

Commitment of Traders Positions as of Jan 30, 2024

View Chart Details
Commercials - Long / Short
14,666 (-411)
11,858 (-445)
Non-Commercials - Long / Short
12,725 (-12)
11,466 (-1,911)
Producers - Long / Short
9,990 (-1,047)
8,151 (+236)
Swap Dealers - Long / Short
2,262 (+646)
1,293 (-671)
Managed Money - Long / Short
9,363 (+197)
5,158 (-2,447)
Other Reportables - Long / Short
3,362 (-209)
6,308 (+536)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
223.850 +10.27%
on 01/09/24
249.150 -0.92%
on 02/08/24
+21.775 (+9.67%)
since 01/08/24
3-Month
210.625 +17.20%
on 12/07/23
249.150 -0.92%
on 02/08/24
+11.850 (+5.04%)
since 11/08/23

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Most Recent Stories

More News
Cattle Set New Highs for the Move on Thursday

Cattle futures were back to challenging the 61.8% retracement from their LoC highs to the Dec low on Thursday. The board settled off the session highs, but still triple digits higher with gains of as much...

LEG24 : 183.775s (+0.85%)
LEJ24 : 186.575s (+0.96%)
LEM24 : 183.725s (+0.84%)
GFH24 : 246.850s (+0.53%)
GFJ24 : 251.925s (+0.29%)
Hog Futures Close Mid-Range after Red Thursday

Front month hogs, past the Feb contract, gapped lower at the day session open and spent the whole day working in the red. At the close futures were off their daily lows but still down by 52 to 75 cents....

HEG24 : 73.300s (-0.10%)
HEK24 : 85.825s (-0.61%)
KMG24 : 83.800s (-0.15%)
Grain Markets Digest Today's USDA Report

With the USDA report behind us, what's next for the markets?

USDA Cattle Report Clickbait?

Cattle Supplies are Tight, but Demand is not Guaranteed

Triple Digit Strength for Cattle Futures at Midday

The cattle futures market is currently $0.77 to $1.52 higher on Thursday. Feeders are also up by $0.82 to $1.80 so far. CME has no deliveries listed through Wednesday with the oldest dated long at 4/18/23....

LEG24 : 183.775s (+0.85%)
LEJ24 : 186.575s (+0.96%)
LEM24 : 183.725s (+0.84%)
LEY00 : 178.740s (unch)
GFH24 : 246.850s (+0.53%)
GFJ24 : 251.925s (+0.29%)
Hogs Continuing Lower at Thursday’s Midday

Front month lean hog futures are trading 15 to 92 cents weaker so far, as OI continues to decline in the Feb contract. USDA’s National Average Base Hog price was listed at $64.60 for Thursday morning,...

HEG24 : 73.300s (-0.10%)
HEJ24 : 80.350s (-0.92%)
KMG24 : 83.800s (-0.15%)
WASDE

WASDE - 2024-02-08

ZSH24 : 1192-2 (-0.10%)
ZSPAUS.CM : 11.4028 (+0.39%)
ZSBAUS.CM : -0.5321 (-0.15%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSH24 : 3,612s (-0.61%)
XTH24 : 4,784s (+0.19%)
ZCH24 : 431-6 (-0.35%)
ZCPAUS.CM : 4.1370 (-0.27%)
ZCBAUS.CM : -0.1955 (-0.72%)
XVK24 : 2,408s (unch)
XEU24 : 65.05 (+0.34%)
All Eyes on Today’s USDA Report

Grain markets are quiet in the early morning trade as traders gear up for today’s USDA report.

Cattle Futures Traders Get Export Sales and WASDE Data today

Front month fat cattle prices were 77c to $1.27 weaker on Wednesday, with Feb at $182.22. CME has no deliveries listed through Wednesday with the oldest dated long at 4/18/23. There were no cash trades...

LEG24 : 183.775s (+0.85%)
LEJ24 : 186.575s (+0.96%)
LEM24 : 183.725s (+0.84%)
GFH24 : 246.850s (+0.53%)
GFJ24 : 251.925s (+0.29%)
USDA to Show Pork S&D Estimates today

Lean hog futures tried to firm up after a weak start to the week, though prices faded into the close and ended mixed within 40c of UNHC. USDA’s National Average Base Hog price increased by 92 cents to...

HEG24 : 73.300s (-0.10%)
HEK24 : 85.825s (-0.61%)
KMG24 : 83.800s (-0.15%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 251.450
2nd Resistance Point 250.300
1st Resistance Point 248.575
Last Price 246.850s
1st Support Level 245.700
2nd Support Level 244.550
3rd Support Level 242.825

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52-Week High 270.100
Fibonacci 61.8% 247.381
Last Price 246.850s
Fibonacci 50% 240.363
Fibonacci 38.2% 233.344
52-Week Low 210.625

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