
Live cattle futures are firm to 70 cents in the red at midday. Cash trade was late last week, with Southern action at $244 and Northern sales from $239-243. Feeder cattle futures are steady to 20 cents lower in the front months. The CME Feeder Cattle Index was down another 38 cents to $372.79 on February 26. The OKC feeder cattle auction on Monday showed 5,500 head for sale. Early action is lower.
Weekly CFTC data from Friday showed a total of 2,296 contracts added to the managed money net long position as of Tuesday to 119,013 contracts. In feeder cattle futures and options, specs added 1,356 contracts to their net long as of 2/24 to 18,162 contracts.