Compared to last week, the markets were disrupted by a ‘Black Swan’ that appeared in Ukraine, causing the most damage to cattle futures. Slaughter cattle were steady to 1.00 higher with feeder cattle slightly lower and stocker calves higher. Dressed beef was lower while corn traded 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: +0.87%
Change from 10 Days Ago: -3.68%
60-Day Index Trendline
Change from 60 Days Ago: -4.07%
Change from 60 Day High: -6.68%
Slaughter Cattle: Trade in the South was steady at 142.00 and Northern dressed trade 1.00 higher at 227.00. In the 3 front months, Live Cattle futures closed from 3.20 to 3.98 lower. USDA’s most recent carcass weight data showed weights were 12 lbs. lighter than last week at 918 lbs., 1 lb. lower than a year ago.
Feeder Cattle: The national average price for feeder steers @ 161.08, 1.01 lower with trade mostly 3.00 lower to 2.00 higher. In the 3 front months, Feeder Cattle futures closed 5.30 to 6.10 lower.
Stocker Calves: The national average price for stocker steers @ 195.87, 0.58 higher with trade 2.00 lower to 4.00 higher.
CME Feeder Cattle Index: 160.02, 2.12 lower than last Friday.
Boxed Beef Cutouts: Choice cutout 7.58 lower at 258.27 and the Select cutout 7.22 lower at 255.41. The Choice/Select spread was 2.86, 0.36 lower.
Cutter Cow Cutout: 3.28 lower at 228.13.
Slaughter Cows: Trade 3.00 lower to 2.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, February 26, 2022 was estimated at 1095.6 million lbs. according to the USDA's Marketing Service. This was 1.0 percent lower than a week ago and 3.0 percent lower than a year ago. Cumulative meat production for the year to date was 4.4 percent lower compared to the previous year.
Grain: Corn was 0.06 higher @ 6.60 with March futures @ 6.5950, 0.0525 higher. Wheat 0.52 higher @ 8.57 and the futures @ 8.4300, up 0.4600.