Live cattle futures are up 50 cents to a tick lower in the front months. Cash trade has picked up mostly to $230 across the country. The Friday Fed Cattle Exchange online auction showed no sales on the 1,530 head, with bids at $230-231. Feeder cattle futures are slipping back on Friday, with contracts down 55 cents to $1.40. CME Feeder Cattle Index was down another $2.40 on July 22 to $350.72.
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. Bi-annual Cattle inventory data will also be released this afternoon.
