Live cattle were down 40 cents to $1.42 across most contracts, with June the lone exception, up a nickel. August was down 80 cents last week. Open interest was down 1,120 contracts. Cash trade saw volume pick up late on Friday to $260 live and $408-410 dressed in the north, with a few sales at $258 in the South. Feeder cattle futures were down $3.45 to $3.90 on the Friday session with August up $3.25 last week. Open interest suggested a rotation of ownership, up just 240 contracts. The CME Feeder Cattle Index was up $6.03 on June 24 to $381.86.
Commitment of Traders data showed managed money adding a modest 1,676 contracts to their net long position in live cattle futures and options at 126,025 contracts. In feeder cattle, specs were adding 2,104 contracts to 15,227 contracts.
