Live cattle futures are posting 75 vent to $1.30 gains so far on Tuesday. Cash trade came in last week on a steady basis in the North at $245 in the north, with $242 in the South, up $2. Feeder cattle futures are trading with 97 cent to $1.37 gains at midday. The CME Feeder Cattle Index was up another 15 cents to $365.38 on August 28.
Managed money increased their net long position in live cattle futures and options by 1,633 contracts as of Tuesday to 126,152 contracts. Feeder cattle saw some long liquidation as of August 26th, with their net long down 2,576 contracts two 30,580 contracts.
