Live cattle futures are showing 32 cent to $1 gains so far. The Thursday morning Fed Cattle Exchange online auction showed a single sale of $225 on 197 head out of KS. Other bids were $222.5 to $224. Outside of that, sales of $230-231 have been reported in the North, with $222-224 in the South. Feeder cattle futures are down 15 to 45 cents at midday. The CME Feeder Cattle Index was up $1.00 to $314.10 on July 1. Today will be the last trade day of the week due to Independence Day on Friday. The government will also be closed.

Export Sales data showed a total of 11,436 MT of beef sold for shipment in the week ending on 6/26. South Korea was the buyer of 3,400 MT, with 2,800 MT sold to Japan. Actual shipments were 14,825 MT, a 6-week high. Japan was the top destination of 5,100 MT, with 4,200 MT sold to South Korea. 

May beef exports totaled just 228.9 million lbs according to Census data, which was the lowest since 2017 for the month and 3.5% below last month. 

USDA Wholesale Boxed Beef prices were lower in the Thursday AM report, with the Chc/Sel spread narrowing to $11.78. Choice boxes were down $4.09 to $390.77, while Select was quoted $1.32 lower at $378.99/cwt. USDA’s Federally inspected cattle slaughter for Wednesday was estimated at 122,000 head, with the weekly total at 360,000 head. That was 13,000 head above the previous week and 4,283 head more vs. the same week last year. 

Aug 25 Live Cattle  closed at $213.450, up $1.000,

Oct 25 Live Cattle  closed at $210.025, up $0.325,

Dec 25 Live Cattle  closed at $210.450, up $0.325,

Aug 25 Feeder Cattle  closed at $308.600, down $0.425,

Sep 25 Feeder Cattle  closed at $308.550, down $0.325,

Oct 25 Feeder Cattle  closed at $306.275, down $0.150,