Live Cattle Dec '21 (LEZ21)
Live Cattle Futures Market News and Commentary
Live cattle futures ended the Friday session with triple digit losses for Dec – April. October and June contracts were each 80 cents lower on the day. USDA reported cash trade from $123 - $126 this week, though the bulk of TX sales were $124 with $123 - $124 in KS and $125 in NE. Feeder cattle futures also gave back triple digits, ending Friday’s round of trading $0.72 to $1.20 weaker. The CME Feeder Cattle Index was 18 cents lower on 9/15 to $154.02.
Managed money funds were 46,043 contracts net long in live cattle as of the Tuesday settle according to the latest CFTC data. That was a weekly reduction of 21,550 contracts, as long liquidation met new spec sellers. That was also the sharpest net long reduction for one week since May of 2019. As for feeder cattle, the CoT data showed funds were 1,041 contracts net long on 9/14. That was down 6,257 contracts primarily led by long liquidation.
Wholesale Boxed Beef prices were weaker in the Friday PM quote. Choice boxes s... Read more
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