Live cattle futures found some strength on Friday with higher cash movement, as contracts were up $2.30 to $3. August was up $8.15 this week. Cash trade picked up to $228-$230 on Friday, in the South, up $4-5. Northern Action was $240, $8-10 higher wk/wk. Feeder cattle posted Friday gains of $4 to $4.20, with August up $15.82 this week. The CME Feeder Cattle Index was up $1.53 to $323.37 on July 10.

Managed money trimmed their large net long position in live cattle futures and options by 1,039 contracts to a total of 128,423 contracts as of July 8th. In feeder cattle, spec traders continued to add to their record net long position, at 37,493 contracts as of Tuesday, An increase of 3,607 contracts on the week

The monthly WASDE update showed a 170 million lb drop for expected 2025 beef production on a smaller quarter 2 through quarter 4 production, leaving the full year estimate at 26.188 billion lbs. Production for 2026 was projected up 540 million lbs from last month to 25.815 billion lbs.

USDA Wholesale Boxed Beef prices collapsed in Friday afternoon’s report, with the Chc/Sel spread narrowing to $12.16. Choice boxes were down $6.02 to $378.64, while Select was quoted $4.37 lower at $366.49/cwt. Estimated cattle slaughter for this week was 568,000 head according to the USDA. That was well above last week’s holiday but 36,573 head lower vs. the same week last year.

Aug 25 Live Cattle  closed at $222.200, up $2.975,

Oct 25 Live Cattle  closed at $219.700, up $2.625,

Dec 25 Live Cattle  closed at $219.575, up $2.325,

Aug 25 Feeder Cattle  closed at $325.325, up $4.050,

Sep 25 Feeder Cattle  closed at $325.400, up $4.175,

Oct 25 Feeder Cattle  closed at $323.200, up $4.075,