
Live cattle futures are showing 30 to 90 cent gains across most contracts on Tuesday. Cash trade last week centered in the $233 range across the South and $232-235 for the North. Feeder cattle futures are up 77 cents to $1.50 at midday. The CME Feeder Cattle Index was up 73 cents to $370.15 on January 15. Monday’s OKC feeder cattle auction showed 9,551 head sold with prices listed as steady to $4 lower on feeders.
CFTC data showed managed money increasing their net long in live cattle futures and options by 6,555 contracts to 101,316 contracts as of January 13. In feeder cattle futures & options, specs were trimming their net long by 530 contracts to 16,308 contracts.