
Live cattle fell lower on Friday as contracts closed with 12 to 70 cent losses. August was still up $1.35 last week. Friday’s preliminary open interest suggested some long liquidation, down 2,335 contracts. Cash trade was light, with trade picking up in KS to $230-231 and $240-242 northern action. Feeder cattle posted losses of $1 to $1.50 on Friday, with August down $1.32 on the week. CME Feeder Cattle Index was back up 11 cents to $322.28 on July 17.
Commitment of Traders data from CFTC showed managed money increasing their record net long in feeder cattle futures and options as of July 15 by just 79 contracts to 37,569 contracts. Spec funds added back another 4,063 contracts to their net long in live cattle by July 15 to 132,486 contracts.