Live cattle futures are falling back 22 to 50 cents at midday, with August yup 67 cents. Cash trade rounded out the week with $225-228 sales in the North and some $228 Southern sales. Feeder cattle futures are fading from early strength, with contracts down $1.42 to $2.40 at midday. The CME Feeder Cattle Index was back down $3.43 on August 13 to $348.50. The Monday OKC feeder cattle auction has an estimated 3,100 head for sale, with a lower undertone noted early.
Commitment of Traders data showed managed money trimming another 1,405 contracts from their net long in live cattle futures and options to 64,662 contracts as of Tuesday. In feeder cattle futures and options specs added just 133 contracts to their net long of 8,738 contracts in the week of August 11.
