Live cattle futures are trading steady to 25 cents lower so far on Tuesday. Cash trade was stronger last week, as most of the country was $230. Feeder cattle futures are up $2 to $3.10 so far on Tuesday. The CME Feeder Cattle Index was up 60 cents to $347.37 on December 12. The weekly OKC feeder cattle auction showed 8,258 head sold. Feeders were $4-8 higher on the steers and steady to up $3 for heifers. Calves were $5-10 lower for steers and down $10-20 on heifers.
Commitment of Traders data for the week ending on November 25 showed managed money trimming 4,420 contracts from their net long to 92,911 contracts, the smallest since October 2024. In feeder cattle futures and options, specs were cutting back their net long by 1,382 contracts to 16,048 contracts.
