Live cattle futures experienced significant losses on Friday, with April contracts dropping $4.67 to close at $232.23, marking a $9.77 decline for the week. In the cash market, dressed cattle traded at $383 in the North, while live cattle prices ranged from $243 to $244 nationwide. Feeder cattle futures also fell, with contracts declining between $6.22 and $8.10; March contracts closed at $355.43, down $12.60 for the week.
According to the latest Weekly CFTC data, managed money net long positions for cattle increased by 2,296 contracts to 119,013 as of Tuesday. In feeder cattle, speculative positions rose by 1,356 contracts to reach a total of 18,162 contracts. The USDA’s estimated cattle slaughter for the week stood at 516,000 head, unchanged from the previous week, but 52,747 below the same week last year.
