The market will resume trading at 8:30 am CST this morning after the Monday holiday. Live cattle futures saw mixed trade, as Feb was held up by Cash and 57 cents higher on Friday. Other contracts were slightly lower, as February was up $5.32 on the week. Cash trade was slow to get kicked off this week, as things settled in at 244-245 in the North and up to $248 in the South. Feeder cattle futures closed with most contracts slipping lower, as March was up 42 cents on Friday but $1.27 lower on the week. Preliminary open interest was down 1,031 contracts on Friday. The CME Feeder Cattle Index was back up 4 cents to $373.91 on February 12.
Commitment of Traders data from CFTC showed a total of 5,897 contracts cut from the spec fund net long position as of 2/10, taking it to 108,634 contracts in live cattle. In feeder cattle futures and options, managed money trimmed back 273 contracts from their net long to 16,162 contracts by Tuesday.
