Live cattle futures are slipping back $1.15 to $1.35 so far on the day. Cash trade saw some light $348-350 dressed action in the North last week as reported by USDA, with live sales at $220-222. Southern sales were reported at $226. Feeder cattle futures are trading with contracts 95 cents to $1.70 lower at midday. The CME Feeder Cattle Index was $2.13 lower on October 1 to $336.84. The weekly OKC feeder cattle auction shows an estimated 4,700 head for sale, with early sales reported lower.
Weekly Commitment of Traders data from CFTC showed managed money in live cattle features and options adding 4,321 contracts back to their net long position as of September 29th, taking it to 51,304 contracts. In feeder cattle features and options, managed money speculators added 729 contracts to their net long at 7,638 contracts by Tuesday.
