# Overnight global snapshot – Oct 30

> Hedge funds increased their net-long position in cattle futures to 108,811 contracts in the week ended October 24, the seventh straight weekly gain. December live cattle had climbed 11 percent since late August. Investors are watching wholesale beef prices, which hit record seasonal highs for ribs.

- Date: 2017-10-29 · published 2017-10-29T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/5333-overnight-global-snapshot-oct-30
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Heavy fund buying and strong wholesale beef demand support cattle futures, though a sharp reversal in positioning could pressure prices.

## Read by commodity

- LCATTLE: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| LCATTLE | 2017-10-30 | 1 | +4.6% | 6.8 | Record net-long fund positioning for a seventh straight week and the 11% rally in December live cattle show momentum-driven buying that could extend into the Oct 30 jump. |
| LCATTLE | 2017-11-03 | 5 | +7.9% | 3.3 | Hedge funds raised net-long positions for a seventh straight week, supporting speculative buying pressure behind the rally. |

## Sources

- farmersweekly.co.nz: https://www.farmersweekly.co.nz/news/overnight-global-snapshot-oct-30/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.