On June 25, live cattle futures experienced losses ranging from $3.10 to $4.50, with June futures down $1.20 for the week. Cash trade was reported at $235 in Texas and $233-238 in Kansas, with northern trade at $380 dressed and $240-242 in Nebraska. Feeder cattle futures also dropped, losing $4.75 to $5.10, while August futures were down $3.72 this week.
Commitment of Traders data indicated that as of June 10, managed money held a net long position of 137,836 contracts in live cattle futures and options, a 6,031 contract increase. In feeder cattle futures, spec traders increased their net long position to 35,962 contracts, adding 1,135 contracts. USDA reported an estimated cattle slaughter of 558,000 head this week, which is 24,000 below the previous week and 57,083 below the same week last year.
Current prices for various cattle futures included June Live Cattle at $225.100, August at $212.450, and October at $209.925. Feeder cattle futures closed with August at $306.425, September at $305.600, and October at $303.350.
