For the week, all classes of cattle were lower while the futures were marginally higher. Dressed beef was slightly higher with corn higher and wheat 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: +0.61%
Change from 10 Days Ago: -2.27%
60-Day Index Trendline
Change from 60 Days Ago: -7.64%
Change from 60 Day High: -8.10%
Slaughter Cattle: Trade in the South was 2.00 lower at 138.00 and Northern dressed trade 5.00 lower at 220.00. In the 3 front months, Live Cattle futures closed from 0.43 to 1.53 higher. USDA’s most recent carcass weight data showed weights were 3 lbs. lighter than last week at 918 lbs., 19 lbs. more than a year ago.
Feeder Cattle: The national average price for feeder steers @ 156.53, 2.22 lower with trade mostly 2.00 to 5.00 lower, with the exception of higher trade in the Western States. In the 3 front months, Feeder Cattle futures closed 0.15 to 1.37 higher.
Stocker Calves: The national average price for stocker steers @ 191.41, 4.42 lower with trade mostly 2.00 to 6.00 lower.
CME Feeder Cattle Index: 152.56, 3.63 lower than last Friday.
Boxed Beef Cutouts: Choice cutout 0.38 higher at 254.71 and the Select cutout 0.70 higher at 249.11. The Choice/Select spread was 5.60, 0.32 lower.
Cutter Cow Cutout: 0.75 higher at 229.07.
Slaughter Cows: Trade 2.00 to 3.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, March 12, 2022 was estimated at 1084 million lbs. according to the USDA's Marketing Service. This was 0.3 percent higher than a week ago and 1.6 percent lower than a year ago. Cumulative meat production for the year to date was 4 percent lower compared to the previous year.
Grain: Corn was 0.08 higher @ 7.24 with May futures @ 7.6250, 0.0825 higher. Wheat 0.94 lower @ 10.06 and the futures @ 11.0650, down 1.0250.
