Live cattle futures continued the liquidation, with contracts down $3.02 to $4.10 across the board. Futures hit fresh 2026 lows on the day. Open interest was up 1,893 contracts, implying new selling interest. Cash trade saw a few $230-232 sales on Wednesday, though there has not been enough to establish a trend. Wednesday’s Fed Cattle Exchange online auction showed no sales on the 1,530 head, with bids at $230-230.50. Feeder cattle futures faced sharp losses on Wednesday, with contracts down $7.92 to $9.72. CME Feeder Cattle Index was down another $3.10 on July 20 to $353.12.
A Reuters survey of analysts estimate the Friday Cattle on Feed report to showed placements in June down 3.3% from last year, with marketings seen 2.8% lower yr/yr. July 1 on feed data is seen at a 2.3% increase.
