Live cattle futures are 30 to 62 cents lower so far on Monday. Cash trade saw some $222-223 live and $345 dressed action in the North last week. Feeder cattle futures are slipping back 80 cents to $1.57 at midday. The CME Feeder Cattle Index was 34 cents higher on October 8 to $337.07. The Monday OKC feeder auction has an estimated 5,800 head for sale, with early demand noted as good.
Commitment of Traders data from Friday indicated managed money trimming just 384 contracts from their net long position in live cattle futures and options in the week ending in 10/6, taking it to 50,920 contracts. In feeder cattle futures and options, specs were adding back 1,149 contracts to their net long at 8,787 contracts as of Tuesday.
