Live cattle futures closed higher on Monday, with contracts gaining 62 cents to $1.02. Cash trade was also strong, averaging $230 across the country, while select Northern sales reached $234. Feeder cattle futures rose by 55 to 85 cents, with the CME Feeder Cattle Index increasing by 60 cents to $347.37. The weekly OKC feeder cattle auction reported 8,500 head for sale, up from the previous week, with prices rising $4-8 for steers and steady to up $3 for heifers, although calves dropped $5-10 for steers and $10-20 for heifers.
As for trading activity, the Commitment of Traders data from November 25 indicated managed money decreased their positions by 4,420 contracts to a net long of 92,911—its lowest since October 2024. In feeder cattle, specs cut back their net long by 1,382 contracts for a total of 16,048 contracts.
Additionally, beef export sales reached 17,148 MT for the week ending November 20, marking a 7-week high, alongside shipments of 19,789 MT, the largest since January. The USDA reported an estimated cattle slaughter of 110,000 head on Monday, down 5,000 from the previous week.
