Live Cattle Futures are 50 cents to $1.35 higher at midday, with August bouncing off of the 40 day moving average support on the charts on Tuesday and Wednesday. 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 are up $2.50/cwt or more at midday on positioning ahead of the COF report due out after the close. The CME Feeder Cattle Index was up $1.16 with an average price of $312.62. 

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%.

National Wholesale Boxed Beef prices are mixed. Choice boxes were down $3.44 to $390.35 this morning, while Select was quoted $1.56 higher at $376.15/cwt. USDA’s Federally inspected cattle slaughter for Thursday was estimated at 117,000 head, with the weekly total at 451,000. That is 5,000 head below the week prior and 28,373 head below the same week last year.

 Jun 25 Live Cattle  are at $225.000, up $0.700,

Aug 25 Live Cattle  are at $212.700, up $1.025,

Oct 25 Live Cattle  are at $210.350, up $1.125,

Aug 25 Feeder Cattle  are at $306.375, up $2.200

Sep 25 Feeder Cattle  are at $306.250, up $2.450

Oct 25 Feeder Cattle  are at $304.150, up $2.250