Live cattle futures are showing gains of $2.25 to $2.85 at midday. Cash from last week showed sales $1-6 higher than the previous week at $222-225. Feeder cattle futures are up $4.60 to $5.65 across the front months The CME Feeder Cattle Index was back up $2.26 on September 10 to $331.22.
Commitment of Traders data from CFTC showed managed money in live cattle futures and options trimming just 664 contracts from their net long in the week ending on September 3, taking it to 47,250 contracts. In feeder cattle futures and options, spec traders cut 727 contracts from their net long, with a net position at 6,781 contracts on Tuesday.
