Live cattle futures were in rally mode on Friday, with contracts up $2.425 to $3.975, as April was up $4.45 this week. Cash trade was light with a few $234-235 sales. Feeder cattle futures closed with gains of $4.12 to $8.07 on Friday, as May was up $10.275 on the week. The CME Feeder Cattle Index was back down 26 cents to $362.98 on March 26.
CFTC data indicated large managed money speculators at a net long of 110,909 contracts in live cattle futures and options, a 4,294 contract increase over the week ending on 3/24, mainly via new longs. In feeder cattle, specs were a net long of 17,810 contracts, a 123 contract increase on the week ending on Tuesday.
