Compared to 2 weeks ago, slaughter cattle were higher. Limited trade for feeder and stocker due to the Holiday closure of auctions but the trend was higher. Live Cattle and Feeder Cattle futures surged higher. Dressed beef cutouts traded higher with corn steady.
Slaughter Cattle: Trade in the South was 1.00 higher at 138.00 and Northern dressed trade 3 higher at 221.00. In the 3 front months, Live Cattle futures closed from 3.28 to 4.22 higher. USDA’s most recent carcass weight data showed weights were 5 lbs. lighter than last week at 924 lbs., 2 lbs. heavier than a year ago.
Feeder Cattle: National average price for feeder steers not available due to most auctions closing for the Holidays. In the 3 front months, Feeder Cattle futures closed from 6.62 to 8.25 higher.
Stocker Calves: National average price for stocker steers not available due to most auctions closing for the Holidays.
CME Feeder Cattle Index: 165.21, 4.17 higher than 2 weeks ago.
Boxed Beef Cutouts: Choice cutout 2.25 higher at 265.26 and the Select cutout 9.95 higher at 258.23. The Choice/Select spread at 7.03 was 7.70 lower.
Cutter Cow Cutout: 1.13 lower at 226.32.
Slaughter Cows: Limited trade due to the Holidays.
Total red meat production was not reported due to the Federal Holiday.
Grain: Compared to 2 weeks ago, corn was steady @ 5.83 with March futures @ 5.9325, also steady. Wheat 0.08 lower @ 7.72 and the futures @ 7.7075, down 0.0425.
