Live cattle futures saw mixed trade, as Feb was held up by Cash and 57 cents higher on Friday. Other contracts were slightly lower, as February was up $5.32 this week. Cash trade was slow to get kicked off this week, as things settled in at 244-245 in the North and up to $248 in the South. Feeder cattle futures closed with most contracts slipping lower, as March was up 42 cents on Friday but $1.27 lower on the week. The CME Feeder Cattle Index was back up 4 cents to $373.91 on February 12. The markets will be closed on Monday for President’s Day.
Commitment of Traders data from CFTC showed a total of 5,897 contracts cut from the spec fund net long position as of 2/10, taking it to 108,634 contracts in live cattle. In feeder cattle futures and options, managed money trimmed back 273 contracts from their net long to 16,162 contracts by Tuesday.
