For the week, cash cattle prices were steady to slightly higher while the futures showed significant strength. Dressed beef started its seasonal climb with corn 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: +1.07%
Change from 10 Days Ago: +2.49%
60-Day Index Trendline
Change from 60 Days Ago: -4.71%
Change from 60 Day High: -5.67%
Slaughter Cattle: Trade in the South was steady at 138.00 and Northern dressed trade 1.00 higher at 221.00. In the 3 front months, Live Cattle futures closed from 2.53 to 4.12 higher. USDA’s most recent carcass weight data showed weights were 1 lb. heavier than last week at 919 lbs., 19 lbs. more than a year ago.
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Feeder Cattle: The national average price for feeder steers @ 157.90, 1.37 higher with trade mostly 1.00 lower to 3.00 higher. In the 3 front months, Feeder Cattle futures closed 3.73 to 4.35 higher.
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Stocker Calves: The national average price for stocker steers @ 191.60, 0.19 higher with trade mostly 2.00 lower to 3.00 higher.
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CME Feeder Cattle Index: 154.85, 2.29 higher than last Friday.
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Boxed Beef Cutouts: Choice cutout 3.45 higher at 258.16 and the Select cutout 1.54 higher at 250.65. The Choice/Select spread was 7.51, 1.91 higher.
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Cutter Cow Cutout: 1.10 higher at 230.17.
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Slaughter Cows: Trade 2.00 to 5.00 higher.
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Total red meat production under Federal inspection for the week ending Saturday, March 19, 2022 was estimated at 1074.6 million lbs. according to the USDA's Marketing Service. This was 0.9 percent lower than a week ago and 0.1 percent lower than a year ago. Cumulative meat production for the year to date was 3.6 percent lower compared to the previous year.
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Grain: Corn was 0.06 lower @ 7.18 with May futures @ 7.4175, 0.2075 lower. Wheat 0.09 lower @ 9.97 and the futures @ 10.6375, down 0.4275.
