Live cattle futures ended Thursday trade with losses of 10 cents to $2 (nearby contracts), as back months were higher. Feeder cattle futures showed gains of 12.5 to 95 cents in most contracts. The CME feeder cattle index was down $1.19 on June 14 at $152.73. Wholesale beef prices were lower in the afternoon report, with choice boxes $1.29 lower at $249.74. Select was down 13 cents, with an average of $220.53. Cash cattle exchanged hands at around $130 in NE on Wednesday. There were a few sales of $128 in the South on Thursday. Estimated FI cattle slaughter through Thursday was 467,000 head, up 1,000 from last week and 24,000 head more than the same week a year ago. Beef export shipments were 17.1% above last week at 14,502 MT. The first official shipment of US beef is making its way to China via air, and is seen as a test of the customs system. Currently the total US export commitments for 2017 are 11.9% above last year.

Market Commentary provided by:

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