Live cattle futures posted losses of 45 cents to $2.67 across the board on Friday, giving back the gains from the week, as October was just a tick lower wk/wk. October options expired on Friday. Open interest was down 4,727 contracts on Friday. Cash trade saw some light $348-350 dressed action in the North so far last week as reported by USDA, with live sales at $220-222. Southern sales were reported at $226. Feeder cattle futures were the leaders to the downside on Friday, with contract falling back $4.25 to $5.20 on the week. That took the October contracts to a 30 cent loss on the week. The CME Feeder Cattle Index was $2.13 lower on October 1 to $336.84.
Weekly Commitment of Traders data from CFTC showed managed money in live cattle features and options adding 4,321 contracts back to their net long position as of September 29th, taking it to 51,304 contracts. In feeder cattle features and options, managed money speculators added 729 contracts to their net long at 7,638 contracts by Tuesday.
