Cattle ended the last trade day of the week mixed. The June and August fat cattle were up by 35 and by 7 cents respectively. The rest of the complex ended the day lower with 20 to 40 cent losses in the fats and with $1.12 to $1.72 losses in the feeders. June live cattle closed out the week at a $3.55 loss Friday to Friday. The August feeders were $9.30 lower for the week. USDA had the bulk of cash activity for the week near $172 in the South and $176 in the North. The CME Feeder Cattle Index for 5/3 was $201.53, down another $1.17.
Commitment of Traders data showed managed money was closing positions in live cattle during the week that ended 5/2. The short covering offset the long liquidation, raising the group’s net long 518 contracts to 107,551. Feeder cattle spec traders built their net long by 1,377 contracts to 14,587 as of 5/2.
