Live cattle futures are up 50 cents to a tick lower in the front months. Cash trade has picked up mostly to $230 across the country. The Friday Fed Cattle Exchange online auction showed no sales on the 1,530 head, with bids at $230-231. Feeder cattle futures are slipping back on Friday, with contracts down 55 cents to $1.40. CME Feeder Cattle Index was down another $2.40 on July 22 to $350.72.
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. Bi-annual Cattle inventory data will also be released this afternoon.
Wholesale Boxed Beef prices were mixed in the Friday morning report. Choice boxes were 45 cents higher at $363.32, with Select down 64 cents to $348.11. USDA’s Federally inspected cattle slaughter for Thursday was 108,000, with the weekly slaughter at 411,000 head. That is down 22,000 head from the previous week and 42,306 head below the same week last year.
Aug 26 Live Cattle are at $225.900, up $0.500,
Oct 26 Live Cattle are at $221.350, down $0.025,
Dec 26 Live Cattle are at $220.950, up $0.275,
Aug 26 Feeder Cattle are at $342.400, down $1.375
Sep 26 Feeder Cattle are at $338.450, down $1.400
Oct 26 Feeder Cattle are at $332.900, down $0.550
