Beef's economic indicators point to continued improvement in the industry during July. Six out of eight economic indicators measured in Drovers' analysis point higher, again pulled by strong beef demand. Boxed cutout prices have weakened since June but are still strong compared to year ago levels. Retail demand for beef is higher despite the increasing supplies and lower prices of competitive meats. In fact the weekly volume of boxed beef was up 22 percent in July. Packer margins are lower but strong while slaughter rate is steady. Calf and feeder prices have increased while live cattle and hot beef prices have declined during July causing the only sideways arrow. However, strong demand has maintained fed steer prices above most expectation considering the heavy placements last spring.