Compared to last week, slaughter cattle were mixed with feeder cattle and stocker calves sharply higher. Dressed beef was lower while corn surged 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: -0.95%
Change from 10 Days Ago: +0.36%
60-Day Index Trendline
Change from 60 Days Ago: -1.44%
Change from 60 Day High: -3.27%
Slaughter Cattle: Trade in the South was steady at 140.00 and Northern dressed trade 2.00 higher at 224.00. In the 3 front months, Live Cattle futures closed from 0.18 to 0.70 lower. USDA’s most recent carcass weight data showed weights were 3 lbs. heavier than last week at 928 lbs., 8 lbs. higher than a year ago.
Feeder Cattle: The national average price for feeder steers @ 162.81, 3.40 higher with trade mostly 2.00 to 5.00 higher. In the 3 front months, Feeder Cattle futures closed 0.12 higher to 0.72 lower.
Stocker Calves: The national average price for stocker steers @ 192.82, 4.80 higher with trade mostly 3.00 to 6.00 higher.
CME Feeder Cattle Index: 162.64, 2.47 higher than last Friday.
Boxed Beef Cutouts: Choice cutout 5.29 lower at 274.52 and the Select cutout 8.22 lower at 267.83. The Choice/Select spread was 6.69, 2.93 higher.
Cutter Cow Cutout: 0.87 higher at 231.84.
Slaughter Cows: Trade 3.00 to 5.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, February 12, 2022 was estimated at 1108.7 million lbs. according to the USDA's Marketing Service. This was 3.0 percent higher than a week ago and 2.0 percent higher than a year ago. Cumulative meat production for the year to date was 7 percent lower compared to the previous year.
Grain: Corn was 0.30 higher @ 6.51 with March futures @ 6.5100, 0.3050 higher. Wheat 0.37 higher @ 7.94 and the futures @ 7.9775, up 0.3450.