Beef futures the latest cattle-on-feed report

The latest cattle-on-feed report confirmed smaller year-on-year feedlot placements, pushing beef futures higher to 187. Still, all good records deserve a second chance, including this one. It isn't perfect, but it is still a very good album that deserves to be heard. An 8 from me this week. Seasonality is playing into beef futures’ upward trend, with historical June-July data showing price gains averaging 2.3%. Current live cattle contracts at 188.45 are tracking above this pace, raising expectations for stronger summer highs. Market sentiment on beef futures remains firm, with June contracts rising 0.6% to 188.