Live cattle futures dropped significantly on Friday, with August contracts falling between $4.50 and $4.80. The Fed Cattle Exchange reported BidTheGrid™ sales ranging from $240.50 to $245 for 220 out of 600 heads offered. Meanwhile, feeder cattle futures saw an even steeper decline, dropping $7.62 to $7.85 midday. The CME Feeder Cattle Index was reported at $336.97, up 76 cents as of August 6.
The USDA’s weekly cattle slaughter estimate for Thursday was 115,000 heads, totaling 447,000 for the week—an increase of 6,000 heads from the previous week but 34,910 heads lower compared to the same week in 2024. Wholesale Boxed Beef prices were mixed on Friday; Choice boxes decreased by $1.16 to $377.78 while Select boxes increased by 96 cents to $354.71, placing the Chc/Sel spread at $23.07.
