Live cattle futures are up $4 to $6.05 so far on Wednesday. There have been some light cash trade picked up in the north this week at $208-210, with dressed trade at $330. Wednesday’s Fed cattle online exchange saw no sales on the 2,052 head offered, with bids of $210 to $215. Feeder cattle futures are showing gains of $8.25 to $8.90 so far on Wednesday. The CME Feeder Cattle Index was down $4.41 to $331.97 on November 24. The market will be closed on Thursday for Thanksgiving, with a normal open on Friday and an early close.
Managed money added 7,740 contracts to their net long position as of October 14 taking it to 123,754 contracts. In feeder cattle futures and options, specs trimmed their net long by 493 contracts to 25,524 contracts.
