Live cattle rounded out the Friday session with gains of 12 cents to $1.15. Cash cattle trade this week has centered around $188 in the South, with northern trade at $198, both in the steadier side compared to last week. Feeder cattle posted gains of 82 cents to $2.50 on Friday. The CME Feeder Cattle Index was back down 49 cents on July 11 at $261.04. 

Commitment of Traders data showed a 1,517 contract reduction to their net long as of last Tuesday to 61,426 contracts in live cattle futures and options. The managed money specs trimmed back their net long in feeders by 1,275 contracts to a net long of 2,656 contracts.

USDA wholesale Boxed Beef prices were mixed in the Friday PM report. Choice boxes were back up 41 cents to $322.06/cwt, with Select $1.07 lower at $302.31. USDA estimated this week’s FI slaughter at 601,000 head for the full week. That is well above last week’s holiday but down 32,391 head below the same week last year.

Aug 24 Live Cattle  closed at $182.375, up $0.125,

Oct 24 Live Cattle  closed at $184.075, up $0.575,

Dec 24 Live Cattle  closed at $185.475, up $0.425,

Aug 24 Feeder Cattle  closed at $258.650, up $2.500,

Sep 24 Feeder Cattle  closed at $258.100, up $1.750,

Oct 24 Feeder Cattle  closed at $257.550, up $1.450,