Street Estimates for USDA Cattle-on-Feed report;

The U.S. Department of Agriculture's cattle-on-feed report is due out Friday at 3:00 p.m. ET.

The average street estimate for placements for the month of July is near 100.5 percent of a year ago. The range is wide at 95 percent to 108.9 percent. Marketings during July are expected to be near 99.7 percent of last year with a wide range of 98.5 percent to 103.2 percent. The street estimate for on-feed cattle supply on August 1st is near 101.4 percent of last year.

October live cattle is trading at 113.00, down 0.40 cents/lb.

December live cattle is trading at 114.15, down 0.10 cents/lb.