The resilience of cattle futures this week points to strong market undercurrents, with April delivery holding near $187. The weekly Commitment of Traders report from CFTC showed spec traders in live cattle futures and options trimming back their net long position by 2,844 contracts to 124,903 contracts as of Tuesday. In feeder cattle, the net long position continues to dwindle down, last week by 1,564 contracts to 24,327 contracts, as the number of outright longs dropped to the lowest since April, with the number of outright shorts the highest since last November. Price action: December live cattle futures rose $1.025 to $234.50, near the session high and for the week up 20 cents. November feeder cattle futures rose $3.025 to $355.425, near the daily high and for the week up 95 cents. Traders reported strong technical buying in cattle futures after prices held above the 50-day moving average. April contracts settled at $187.85, positioning for a potential move toward the $190 psychological level.