Live cattle futures are 37 to 82 cents lower ahead of the Cattle on Feed report. Feeder cattle futures are trading mostly 25 to 40 cents lower, save for August which is up 2 cents. The August 19 Feeder Cattle Index from CME was $142.80, up by 18 cents. WTD cash sales were $106 with early Southern trade, the full range was $106 to $107.75. In the North, trade developed later in the week, ranging $107 - $110, with the bulk near $107. Dressed sales so far this week were reported mostly $169 - $170, but got as high as $174 for higher grade cattle. Ahead of USDA’s monthly CoF report, analysts on average estimate a 0.7% increase yr/yr to Aug 1 cattle on feed. July placements are estimated to be 5.9% above July ’19, and marketings are expected to be 0.9% lower. Wholesale boxed beef prices were higher in the AM update, but the Chc/Seleect spread narrowed to $16.76. Choice boxes were up 61 cents cwt., and Select boxes were $2.92 cwt. stronger. USDA estimated 470k head of cattle slaughtered WTD through Thursday. That was 4k more than the same week last year.

--- provided by Brugler Marketing & Management