Price: $293.225 | Change: +$0.650 (+0.22%) | Date: May 1, 2025
Feeder Cattle futures for May 2025 settled Thursday at $293.225, climbing $0.65 on the day and continuing a multi-session uptrend that has seen prices rise $4.15 (+1.44%) over the past five trading days. The session featured a high of $295.275, which also marks the new 52-week high, suggesting bullish momentum remains intact as traders push prices into uncharted territory. Trading volume was relatively light at 2,888 contracts, below the 20-day average of 8,967, indicating that recent gains may be driven more by underlying market strength than speculative froth. Open interest remains firm at 10,266 contracts, supportive of the ongoing rally, especially as cash markets remain red-hot.
Momentum indicators confirm a technically bullish setup. The Stochastic %K is at 92.13%, with the 20-day %K at 93.94% and %D at 95.50%, all deep in overbought territory. However, the Relative Strength Index (RSI) at 63.39% and Percent R at 7.30% still suggest there is room for the rally to extend without entering critical exhaustion. The MACD oscillator reads +9.277, a strong figure reinforcing the current upward trend, while the Weighted Alpha of +17.88 points to robust long-term performance. Despite the overbought signals, these technicals suggest continued buyer interest, particularly with support from cash fundamentals, including a surging National Steer Price and tight supply outlook.
That said, traders should be mindful of potential pullbacks or consolidation, especially as prices test key psychological resistance around the $295 mark. With the 20-day moving average down at $283.997, current prices are significantly elevated, leaving room for short-term corrections without breaking the broader trend. The Average True Range (ATR) at 3.638 indicates moderate volatility, and any close below the $290.50–$291.50 range could trigger technical selling. Still, unless bearish news emerges or cash markets turn, the May contract remains in a strong bullish posture with potential to breach and hold above $295 if momentum continues.
