Fed cattle traded lower in all regions in moderate volumes. Cash trade in the North occurred at $196 per cwt. and $310 dressed, both $2 lower than the previous week. Trade in the South was at $187 to $188 per cwt., $1 lower than the previous week.
Feeder cattle sold mixed from $4 lower to $2 higher. Calves also sold mixed from $5 lower to $2 higher. Market cows sold steady to $5 lower.
Wholesale beef prices moved significantly lower for the week. Choice boxed beef closed Friday at $313.83 per cwt., $8.23 lower for the week. Select boxed beef closed Friday at $298.80 per cwt., $3.51 lower for the week.
At the CME, August live cattle futures rose 85 cents to $183.10, nearer the session high and on the week up 72 1/2 cents. August feeder cattle futures fell 62 1/2 cents to $255.60, nearer the session high and for the week down $3.05.
Estimated weekly cattle slaughter was 584,000 head, down 42,000 head from last year. The year-to-date total was estimated at 17.282 million head, down 4.5% from a year earlier.
Cattle on Feed
Friday’s USDA Cattle on Feed report found 11.304 million head on feed, 100.5% of a year ago and nearly steady with the 5-year average. Placements in June totaled 1.564 million head, down 6.8% from last year. Marketings totaled 1.786 million head, down 8.7% on two fewer slaughter days in June. Analysts believe traders will view the report as neutral to slightly positive for futures markets.
