Live cattle futures declined on Thursday, with a loss of $1.00 resulting in August contracts at $226.025. Cash bids were reported at $230 in the South and $235 in the North, with no sales recorded in the Thursday Fed Cattle Exchange auction for the 2,556 head offered. Feeder cattle futures also fell, ranging from $2.25 to $2.75 lower.
In the week ending July 17, export sales of beef nearly doubled year-over-year, totaling 16,740 MT, while shipments rose 21.68% to 12,525 MT. The USDA reported a weekly cattle slaughter of 331,000 head, down 12,000 from the previous week and 31,341 below the same week in 2024.
The Cattle on Feed report, set for release on Friday, is expected to show a 2% decrease in June placements compared to last year, with marketings predicted to be 3.6% lower than June 2024. Additionally, the USDA Wholesale Boxed Beef prices showed an increase, with Choice boxes quoted at $369.09, up $1.57.
