Live cattle futures are trading with $4.15 to 4.40 gains across most contracts at midday, to kick off the week with strength. Cash activity narrowed in at $240 across the country down $2 from last week. Feeder cattle futures are up $7.15 to $8.40 on Monday, as contracts near the limit higher. The CME Feeder Cattle Index was down 40 cents at $363.08 on September 11. The weekly OKC feeder cattle auction showed 6,000 head for sale, with price action announced later.
Managed money was busy adding a slight 561 contracts to their large net long position in live cattle futures and options of 131,003 contracts as of Tuesday. Feeder cattle futures and options, spec traders cut back another 2,739 contracts from their net long position to 25,636 contracts.
