Live cattle futures are yup 45 cents to $1.42 on the session. Cash trade was relatively slow last week, with some $230 sales noted. Northern sales were at $228-228.50. Feeder cattle futures are holding onto midday gains, with contracts up 62 cents to $1.15 on Monday, The CME Feeder Cattle Index was up $1.52 on October 22 to $345.09.
Managed money held a net long position of 51,143 contracts as of Tuesday in live cattle futures and options, an increase of 2,395 contracts on the week mainly via a drop in short interest. CFTC data showed speculators in feeder cattle futures and options adding 1592 contracts to their net long position as of October 20th to 10,444 contracts.
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