Live cattle futures posted $2 to $4.70 losses on Friday as April was $9.77 lower on the week. Cash trade settled in at $383 dressed in the North, with $243-244 live across the country. Feeder cattle futures closed Friday with contracts falling $6.22 to $8.10, as March was $12.60 lower this week. The CME Feeder Cattle Index was down another 38 cents to $372.79 on February 26.
Weekly CFTC data from Friday showed a total of 2,296 contracts added to the managed money net long position as of Tuesday to 119,013 contracts. In feeder cattle futures and options, specs added 1,356 contracts to their net long as of 2/24 to 18,162 contracts.
