Live cattle futures are down 17 cents to 62 cents higher across most contracts on Monday. Cash trade was mostly steady last week, with light dressed trade at $384-386 in the North and live action at $243-245. Southern sales were picked up at $235-237. Feeder cattle futures are trading with $1.42 to $2.42 gains across most contracts on Monday. The CME Feeder Cattle Index was back down 26 cents to $345.75 on August 14. The Monday OKC feeder cattle auction shows an estimates 5,500 head for sale, with early sales listed as steady.
Commitment of Traders data showed spec funds trimming 752 contracts from their net long position as of Tuesday to 124,813 contracts. In feeder cattle, managed money cut a total of 3,542 contracts from their net long to 33,537 contracts.
