Live cattle futures closed $1.85 to $2.20 higher on Monday. Cash trade from last week showed sales of $230-232 in the North, with sales of $222-224 in the South creeping to $225 late in the week. Feeder cattle futures were up $4.15 to $4.25 on the Monday session. The CME Feeder Cattle Index was up 8 cents to $312.04 on July 4.
CFTC data showed spec funds trimming back their net long in live cattle futures options by 3,431 contracts to 129,462 contracts. In feeder cattle, managed money cut back 1,620 contracts from their large net long to 33,886 contracts.
