Feeder Cattle Futures Market News and Commentary
Live cattle futures ended the last trade day of the week 30 to 47 cents higher. That kept futures higher from Friday to Friday, with Dec settling up by 27 cents and Feb up by 75 cents. USDA reported some moderate Friday action in the North mostly at $157. The week’s cash trade was mostly $155 in the South and $157 in the North. Feeder cattle ended the Friday session off their highs after printing triple digit gains earlier in the session. Jan held on for a $1.37 gain, while the other nearby contracts settled 72 to 97 cents higher. For the week, Jan feeders closed up by $4.15. The 12/01 CME Feeder Cattle Index was $179.03, up by 63 cents.
CFTC’s weekly Commitment of Traders report showed cattle spec traders were selling during the week that ended 11/29. The 3.4k new spec shorts weakened their net long to 59,844 contracts. In feeders, managed money firms were 4,682 contracts more net short driven by another round of new selling. At the 11/29 close, the spec funds were 8,236 con... Read more