Live Cattle Futures were 50 cents to $1.35 higher at midday, but longs headed for the exit ahead of the close and the pending COF report from USDA.   Futures settled at $1.55 to $1.87 lower. Cash trade has pulled back this week with $236 ($376 dressed) reported in the north, down $4-6 and $231 in the south, $5 lower. Feeder cattle futures also lost their $2.50/cwt or more midday gains to settled $1.55 to $1.72 lower. The CME Feeder Cattle Index was down 5 cents @ $310.99. 

Export Sales data from UDSA showed 11,711 MT of beef sold for 2025 in the week of June 12. That was back down 23.64% from the week prior. Shipments were tallied at 13,593 MT in that week, which was down 6.53% from the previous week. 

A Reuters survey of analysts shows June 1 cattle on feed estimated at 1.1% below last year ahead of this afternoon’s monthly Cattle on Feed report. May placements are expected to be down 5.9%, with marketings seen dropping 9.3%.  USDA reported the number of cattle on feed June 1 in the 1000+ head lots was 98.78% of year ago, i.e. down 1.2%. May placements of 1.886 million head were down 7.8%, more than expected.  However, marketings were down 10.08% and that kept the total feedlot number supported. 

National Wholesale Boxed Beef prices were mixed. Choice boxes were down $3.29 to $390.50 in the PM report, while Select was quoted $2.36 higher at $376.95/cwt. USDA’s Federally inspected cattle slaughter for Friday was estimated at 102,000 head, with the weekly total at 553,000. That is 3,000 head below the week prior and 41,481 head below the same week last year. Saturday harvest is expected to only be around 1,000 head. Slaughter YTD is down 6.4% from year ago. 

Jun 25 Live Cattle  closed at $223.025, down $1.275,

Aug 25 Live Cattle  closed at $209.825, down $1.850,

Oct 25 Live Cattle  closed at $207.350, down $1.875,

Aug 25 Feeder Cattle  closed at $302.450, down $1.725,

Sep 25 Feeder Cattle  closed at $302.225, down $1.575,

Oct 25 Feeder Cattle  closed at $300.350, down $1.550,