Live cattle futures continued the liquidation, with contracts down $3.02 to $4.10 across the board. Futures hit fresh 2026 lows on the day. Open interest was up 1,893 contracts, implying new selling interest. Cash trade saw a few $230-232 sales on Wednesday, though there has not been enough to establish a trend. Wednesday’s Fed Cattle Exchange online auction showed no sales on the 1,530 head, with bids at $230-230.50. Feeder cattle futures faced sharp losses on Wednesday, with contracts down $7.92 to $9.72. CME Feeder Cattle Index was down another $3.10 on July 20 to $353.12.
A Reuters survey of analysts estimate the Friday Cattle on Feed report to showed placements in June down 3.3% from last year, with marketings seen 2.8% lower yr/yr. July 1 on feed data is seen at a 2.3% increase.
Wholesale Boxed Beef prices were weaker in the Wednesday afternoon report. Choice boxes were $3.41 lower at $363.50, with Select down $3.66 to $350.57. USDA’s Federally inspected cattle slaughter for Wednesday was 95,000, with the weekly slaughter at 300,000 head. That is down 24,000 head from the previous week and 35,209 head below the same week last year.
Aug 26 Live Cattle closed at $223.200, down $3.475,
Oct 26 Live Cattle closed at $219.200, down $4.025,
Dec 26 Live Cattle closed at $218.800, down $4.100,
Aug 26 Feeder Cattle closed at $341.175, down $8.375,
Sep 26 Feeder Cattle closed at $336.200, down $8.775,
Oct 26 Feeder Cattle closed at $329.850, down $9.725,
