The June live cattle futures settled $1.25 higher on a firm tone to the cash trade, while the rest of the contracts were 30 to 92 cents lower. Cash trade has been slow to develop this week. Thursday morning’s Fed Cattle Exchange online auction from Central Stockyards showed sales of $195 in IA using the BidTheGrid™ method. Feeder cattle ground lower after hitting technical resistance, settling $1.05 to $1.15 lower. The CME Feeder Cattle Index was 73 cents higher on June 26 at $259.04. 

Export Sales of beef totaled 16,738 MT in the week of June 20, a 5-week high. Japan and China shared the top spot this week, each purchasing 4,000 MT, with another 3,500 MT sold to South Korea. Shipments were at 16,418 MT, a slight decline from the previous week. A total of 4,700 MT was shipped to Japan, with 3,900 MT headed to South Korea.

USDA wholesale Boxed Beef prices were mixed in the Thursday PM report. Choice boxes were up 48 cents to $323.33/cwt, with Select 16 cents lower at $302.70. The Chc/Select spread widened to $20.63. USDA estimated Thursday’s FI slaughter at 121,000 head, with this week’s total at 474,000 head. That is down 7,000 head from the previous week and 19,078 below the same week last year.

Jun 24 Live Cattle  closed at $194.175, up $1.250,

Aug 24 Live Cattle  closed at $186.450, down $0.300,

Oct 24 Live Cattle  closed at $185.750, down $0.375,

Aug 24 Feeder Cattle  closed at $260.650, down $1.125,

Sep 24 Feeder Cattle  closed at $261.400, down $1.075,

Oct 24 Feeder Cattle  closed at $261.800, down $1.100,