Live cattle futures were up $1.45 to $1.60 in most front months on Wednesday, with in delivery December down a tick. There were 15 deliveries retendered at 1 cent and 15 at 2 cents on Wednesday. Cash trade has been quiet so far this week, with some bids picked up in the north at $225-227. Feeder cattle futures closed with gains of $2.40 to $2.90 at midday. The CME Feeder Cattle Index was back down 47 cents to $344.03 on December 9.
Another backlogged Commitment of Traders report from Wednesday showed managed money trimming another 7,083 contracts from their net long position in live cattle futures and options the week ending on 11/10, taking it to 101,265 contracts. In feeder cattle futures and options, spec funds were trimming another 470 contracts from their net long, taking it to 17,293 contracts.
