Compared to last week, all classes of cattle were higher, as were Live Cattle and Feeder Cattle futures. Dressed beef cutouts and corn were lower.
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: -0.13%
Change from 10 Days Ago: +2.79%
60-Day Index Trendline
Change from 60 Days Ago: -0.98%
Change from 60 Day High: -2.22%
Slaughter Cattle: Trade in the South was 3.00 higher at 140.00 and Northern dressed trade 4.00 higher at 222.00. In the 3 front months, Live Cattle futures closed from 3.35 to 3.77 higher. USDA’s most recent carcass weight data showed weights were 3 lbs. higher than last week at 925 lbs., 1 lb. lower than a year ago.
Feeder Cattle: The national average price for feeder steers @ 159.41, 1.59 higher with trade 3.00 higher to 1.00 lower. In the 3 front months, Feeder Cattle futures closed 5.43 to 6.48 higher.
Stocker Calves: The national average price for stocker steers @ 188.02, 1.70 higher with trade 4.00 higher 1.00 lower.
CME Feeder Cattle Index: 160.17, 1.51 higher than last week.
Boxed Beef Cutouts: Choice cutout 10.61 lower at 279.81 and the Select cutout 7.36 lower at 276.05. The Choice/Select spread narrowed to 3.76, 3.25 lower.
Cutter Cow Cutout: 1.21 higher at 230.97.
Slaughter Cows: Trade 1.00 to 5.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, February 05, 2022 was estimated at 1074.1 million lbs. according to the USDA’s Agriculture's Marketing Service. This was 2.0 percent lower than a week ago and 5.5 percent lower than a year ago. Cumulative meat production for the year to date was 9 percent lower compared to the previous year.
Grain: Corn was 0.10 lower @ 6.21 with March futures @ 6.2050, 0.1550 lower. Wheat 0.15 lower @ 7.57 and the futures @ 7.6325, down 0.2300.
