Live cattle futures are mixed at midday, with contracts a dime lower to 35 cents higher. USDA reported northern dressed sales at $350-355 and $222-227 live. Southern sales were reported at $228.. Feeder cattle futures are trading with gains of $1.20 to $1.80 across most contracts on Monday. The CME Feeder Cattle Index was another 90 cents higher on October 15 to $343.54.
Friday’s Commitment of Traders report from CFTC showed managed money trimming 2,172 contracts from their net long in live cattle futures and options in the week of 10/13, taking it to 47,748 contracts. In feeder cattle futures and options, specs added a modest 65 contracts to their net long as of Tuesday at 8,852 contracts.
