Live Cattle futures fell on Monday, with contracts dropping by 25 to 72 cents. Cash trade prices decreased last week, with northern prices reported at $236 ($376 dressed) down $4-6, and southern prices between $228-231, down $5. In contrast, Feeder cattle futures gained slightly, with prices up 35 to 50 cents. The CME Feeder Cattle Index decreased by 14 cents to $310.85. An estimated 4,422 head of cattle were sold at the weekly OKC feeder cattle auction, where steers saw steady prices, but calves decreased by $5-10.
The delayed Commitment of Traders report indicated that managed money reduced their net long position in live cattle futures by 2,586 contracts, bringing the total to 135,250 contracts. For feeder cattle, they trimmed just 104 contracts to 35,858 contracts by June 17. On the same day, USDA reported an estimated 111,000 head of federally inspected cattle slaughter, which is 8,000 more than the previous Monday but 2,292 less than the same day last year.
Live Cattle prices closed as follows: Jun 25 at $222.300 (down $0.725), Aug 25 at $209.375 (down $0.450), and Oct 25 at $207.100 (down $0.250). Feeder Cattle closed at: Aug 25 at $302.800 (up $0.350), Sep 25 at $302.625 (up $0.400), and Oct 25 at $300.850 (up $0.500).
