Live cattle futures posted positive trade on Friday, with contracts up anywhere from 20 cents to $1. Cash trade kicked off on Friday, with some action at $186 reported in the South, up $1 on the week. Northern action was $296 in the beef up $2 from the previous week. Feeder cattle futures found some strength amid the weaker corn and stronger fats, with contracts up 45 cents to $2.225. The CME Feeder Cattle Index was down $1.47 at $246.78 on October 3.
CFTC data pegged speculators in live cattle futures and options adding 11,180 contracts to their net long position as of 10/1 at 63,404 contracts. In feeder cattle they added another 3,674 contracts to their net long at 5,701 contracts.
