Live cattle futures fell $1.52 to $2.55 on Thursday, as traders were busy positioning themselves ahead of Friday’s CoF report. Some southern cattle traded at $187 to $188.50 this week. Northern trade has yet to be widely established, with some sales of $310 in the beef and live bids of $196. The Central Stockyards Fed Cattle Exchange saw live sale of $188 in TX, with a BidTheGrid™ method sale $190 in TX and $196.50 in KS. Feeder cattle futures were pressured lower Thursday, with losses of $2.00 to $2.55. The CME Feeder Cattle Index was down $2.06 on July 17 at $259.26. 

Beef export sales totaled 15,401 MT in the week that ended on July 11, well above last week. Shipments were an improvement from the week prior at 15,588 MT.

Ahead of Friday’s Cattle on Feed report, analysts are looking for June placements on average down 2.8% from a year ago. June marketings are expected to be 8.3% below last year, as July 1 on feed inventory expected to be up 1.1%.

USDA wholesale Boxed Beef prices were mixed in the Thursday afternoon report, with Choice boxes down another $2.01 to $316.15/cwt and Select products up $1.02 at $299.46. The Chc/Sel spread is at $16.69. USDA estimated Thursday’s FI slaughter at 115,000 head, taking the weekly total to 475,000. That is now 1,000 head below last week and down 18,345 head from the same week last year.

Aug 24 Live Cattle  closed at $182.250, down $2.025,

Oct 24 Live Cattle  closed at $183.025, down $2.550,

Dec 24 Live Cattle  closed at $184.975, down $2.325,

Aug 24 Feeder Cattle  closed at $256.225, down $2.325,

Sep 24 Feeder Cattle  closed at $257.000, down $2.550,

Oct 24 Feeder Cattle  closed at $256.950, down $2.450,