Compared to last week, slaughter cattle were steady. Feeder cattle traded slightly lower and stocker calves slightly higher. Live Cattle futures were mixed with Feeder Cattle futures lower. Dressed beef cutouts and corn were higher.
Cattle/Beef Complex Indexes...
Indexes track the daily market values for the past 10 & 60 days. Each daily value is the weighted total of the Gain/(Loss) for 15 market factors compared to the previous trading day.
10-Day Index Trendline
Change from Previous Day: -0.74%
Change from 10 Days Ago: -1.02%
60-Day Index Trendline
Change from 60 Days Ago: -0.19%
Change from 60 Day High: -3.73%
Slaughter Cattle: Trade in the South was steady at 137.00 and Northern dressed trade at 218.00. In the 3 front months, Live Cattle futures closed from 0.98 higher to 0.32 lower. USDA’s most recent carcass weight data showed weights were steady with last week at 928 lbs., 5 lbs. heavier than a year ago.
Feeder Cattle: Compared to last week, the national average price for feeder steers @ 158.09, 0.27 lower with trade 1.00 higher to 2.00 lower. In the 3 front months, Feeder Cattle futures closed from 2.23 to 3.07 lower.
Stocker Calves: The national average price for stocker steers @ 185.07, 1.69 higher with trade 1.00 lower to 3.00 higher.
CME Feeder Cattle Index: 161.10, 0.69 lower than last week.
Boxed Beef Cutouts: Choice cutout 8.10 higher at 292.41 and the Select cutout 8.36 higher at 282.33. The Choice/Select spread at 10.08 was 0.26 lower.
Cutter Cow Cutout: 0.39 higher at 229.02
Slaughter Cows: Trade 1.00 lower to 3.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, January 22, 2022 was estimated at 1069.9 million lbs. according to the USDA's Marketing Service. This was 3.3 percent higher than a week ago and 7.9 percent lower than a year ago. Cumulative meat production for the year to date was 11.9 percent lower compared to the previous year.
Grain: Corn was 0.21 lower @ 6.12 with March futures @ 6.1625, 0.2000 higher. Wheat 0.48 higher @ 7.63 and the futures @ 7.8000, up 0.3650.
