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Live Cattle Aug '23 (LEQ23)
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Live Cattle Futures Market News and Commentary

Midweek Rally for Cattle Futures

Live cattle ended the session ~40 cents off their highs on $0.60 to $1.82 gains. The June contract flipped back to net positive for the week’s net move after fading Monday and Tuesday, and saw a new LoC high. USDA reported TX cash sales near $171 on Wednesday with $180 - $182 in NE. The Wednesday FCE auction had 828 head of feeders listed and sold 396 TX heifers, one pen for $171.50 and another for $174. 

The front month feeder cattle futures market was $0.87 to $1.17 higher on Wednesday. The CME Feeder Cattle Index was 60 cents higher on 5/23 to $207.36.  

Monthly NASS data showed 448m lbs of beef in cold storage for April. That was a 6.3% decline month/month and was 4.4% below April ’21. 

USDA’s Wednesday Wholesale Boxed Beef quotes were $298.30 cwt. for Choice and $283.79 for Select. That was a $2.44 drop for Choice and a $2.51 increase for Select, tightening the Chc/Sel spread to the lowest since April 19th. Choice ribs were $425.35 and Select ribs were quoted... 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
08/07/23 (74 days)
Expiration Date
08/31/23 (98 days)

Commitment of Traders Positions as of May 16, 2023

View Chart Details
Commercials - Long / Short
87,076 (+2,654)
179,432 (+5,028)
Non-Commercials - Long / Short
145,708 (+2,595)
43,592 (-1,684)
Producers - Long / Short
30,585 (+211)
172,318 (+2,862)
Swap Dealers - Long / Short
52,133 (+215)
2,756 (-62)
Managed Money - Long / Short
112,835 (+3,434)
13,798 (-1,593)
Other Reportables - Long / Short
32,873 (-839)
29,794 (-91)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
159.250 +3.06%
on 05/04/23
164.600 -0.29%
on 05/19/23
+0.675 (+0.41%)
since 04/24/23
3-Month
154.600 +6.16%
on 03/22/23
165.050 -0.56%
on 04/13/23
+4.350 (+2.72%)
since 02/24/23
52-Week
146.825 +11.78%
on 07/05/22
165.050 -0.56%
on 04/13/23
+16.850 (+11.44%)
since 05/24/22

More Live Cattle Quotes

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Most Recent Stories

More News
Live Cattle Recover Early Morning Losses

Live cattle struggled to find their footing to start today's trade, but managed to stage a strong recovery to finish within a stone's throw of a closing contract high.

Mixed Close for Hog Futures

Lean hogs were mixed with gains for the deferred contracts and 2 to 87 cent losses in the summer months. July futures were still at a net $9.97 premium to Dec at the close. USDA’s National Average Base...

Midweek Rally for Cattle Futures

Live cattle ended the session ~40 cents off their highs on $0.60 to $1.82 gains. The June contract flipped back to net positive for the week’s net move after fading Monday and Tuesday, and saw a new...

LEM23 : 166.100s (+1.11%)
LEQ23 : 164.125s (+0.95%)
LEV23 : 168.375s (+0.72%)
GFK23 : 208.975s (+0.57%)
GFQ23 : 234.525s (+0.45%)
Grains - Closing Prices and Market Recap (corn, soybeans, and wheat)

It was a bit of a mixed bag in today's grain trade, with corn higher, beans little changed, and wheat under pressure.

Shootin' the Bull about beef movement over the holiday

A soft start ended on a firm note this afternoon.  Packers bid higher to acquire cattle.  The upcoming three day weekend will be interesting to see what movement of beef is. June was able to make a...

Hogs Mixed at Midday

The back month futures are trading 30 to 60 cents higher at midday, as the summer month contracts are fading with 12 to 77 cent losses. The July contract is still at a $10.10 premium to December contracts....

HEM23 : 79.800s (-1.08%)
HEQ23 : 80.400s (-0.03%)
KMM23 : 83.275s (-1.51%)
Cattle Flipping Net Higher for the Week

After fading Monday and Tuesday, the midweek cattle futures market is back up by triple digits and into the black for the week’s net move. The Wednesday FCE auction had 828 head listed and sold 396 TX...

LEM23 : 166.100s (+1.11%)
LEQ23 : 164.125s (+0.95%)
LEV23 : 168.375s (+0.72%)
LEY00 : 170.000s (unch)
GFK23 : 208.975s (+0.57%)
GFQ23 : 234.525s (+0.45%)
Will Profit Taking in Cattle Continue?

The lack of new news following last week's Cattle on Feed report has prompted some long liquidation in live cattle in the first two days of the week. Will today mark a third day of profit taking?

Mostly Lower Hog Futures on Tuesday

Lean hogs staged an afternoon recovery that left June nearly $1 off the low and turned August and October contracts higher for the day. The deferred contracts stayed 12 to 30 cents weaker by the Tuesday...

HEM23 : 79.800s (-1.08%)
HEQ23 : 80.400s (-0.03%)
KMM23 : 83.275s (-1.51%)
Cattle Faded on Tuesday

Live cattle futures were down 32 cents to $1.02 on the Tuesday session. August was the weak link and is now at a $1.70 discount to June and a $4.60 discount to the October contract. Tuesday’s FCE auction...

LEM23 : 166.100s (+1.11%)
LEQ23 : 164.125s (+0.95%)
LEV23 : 168.375s (+0.72%)
GFK23 : 208.975s (+0.57%)
GFQ23 : 234.525s (+0.45%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 167.900
2nd Resistance Point 166.225
1st Resistance Point 165.175
Last Price 164.125s
1st Support Level 162.450
2nd Support Level 160.775
3rd Support Level 159.725

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52-Week High 165.050
Last Price 164.125s
Fibonacci 61.8% 158.088
Fibonacci 50% 155.938
Fibonacci 38.2% 153.787
52-Week Low 146.825

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