Live cattle futures are kicking off Monday with losses of $2.47 to $3.12. Cash trade from last week started at $250-252 across the country and worked up to $256-257. Feeder cattle futures are falling $6.07 to $7.50 at midday. The CME Feeder Cattle Index was up $1.56 to $374.03 on April 30. The weekly OKC feeder cattle auction has an estimated 7,000 head for sale.
Managed money increased their net long in live cattle futures and options by 1,796 contracts in the week ending on April 28, taking it to 136,591 contracts. In feeder cattle futures/options spec funds cut back 1,676 contracts from their net long to 17,089 contracts.
