Live cattle futures saw mixed trade on Friday, with contracts anywhere from 37 cents lower to 50 cents higher. Cash trade was quiet this week, with a few sales of $190 in the South and $197-198 in the North, both a $1-2 improvement from the week prior. Feeder cattle futures were helped by the weakness in corn, as futures rallied 60 cents to $1.70. The CME Feeder Cattle Index was down 22 cents at $258.84 on July 25. 

Commitment of Traders data showed managed money in live cattle futures and options adding 3,636 contracts their net long as of July 23 to 61,876 contracts. In feeders, they trimmed back their net long by 420 contracts to 3,285 contracts

USDA wholesale Boxed Beef prices were higher in the Friday PM report. Choice boxes were $1.31 higher at $313.77, with Select products up $2.35 @ $297.46. The Chc/Sel spread has narrowed to $16.31.  USDA estimated this week’s FI slaughter at 600,000 head. That is 16,000 head above last week and 15,823 head below a year ago. 

Aug 24 Live Cattle  closed at $188.575, down $0.325,

Oct 24 Live Cattle  closed at $188.550, down $0.050,

Dec 24 Live Cattle  closed at $189.300, up $0.400,

Aug 24 Feeder Cattle  closed at $259.700, up $1.075,

Sep 24 Feeder Cattle  closed at $259.600, up $1.700,

Oct 24 Feeder Cattle  closed at $258.300, up $1.225,