Does loestrin 24 mimic ovulation? i know it makes one not ovulate, but does it mimic the whole menses period all together?

Generally yes: Any combination oral contraceptive is intended to suppress the normal ovarian function. Most do so by mimicking the normal regulation of the cycle. The pill you reference would fall into that category.

Hormonal cycle: Low dose oral contraceptives like loestrin 24, mimics the normal female hormonal cycle, which controls when you ovulate and have your period. Loestrin prevents ovulation in most cases, but also prevents the implantation of a fertilized egg by thinning the uterine lining thereby causing a spontaneous abortion if ovulation and impregnation occurs.