Feeder Cattle Futures Market News and Commentary
Fat cattle finished out the week of trading with 12 to 40 cent gains on Friday. For Feb, that left the board at a net 10 cent gain for the week, while April was up by 90 cents Friday to Friday. USDA confirmed some light catch up business in the WCB on Friday, with sales of $155 - $156. The USDA mentioned activity from $152 to $157 through the week with limited enough volume to not declare a bulk price outside of $155 in NE. Feeder cattle went into the weekend 42 to 62 cents higher on the day for the front months. March feeder cattle closed $2.50 above last Friday. The CME Feeder Cattle Index for 1/26 was another $0.77 higher to $179.57.
The Commitment of Traders report showed live cattle spec traders closed 7.1k longs through the week that ended 1/24. That weakened their net long to 76,857 contracts. Feeder cattle spec traders were 5,549 contracts net short at the Tuesday settle. That is 409 contracts less net short through the week given light net new buying.
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