For the week, cash cattle prices were steady to slightly higher with the futures mixed. Dressed beef continued its seasonal climb with corn and wheat sharply 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: +0.09%
Change from 10 Days Ago: +1.52%
60-Day Index Trendline
Change from 60 Days Ago: -1.99%
Change from 60 Day High: -5.53%
Slaughter Cattle: Trade in the South was steady at 138.00 and Northern dressed trade also steady at 221.00. In the 3 front months, Live Cattle futures closed from 0.03 lower to 0.52 higher. USDA’s most recent carcass weight data showed weights were 2 lbs. lighter than last week at 917 lbs., 13 lbs. more than a year ago.
Feeder Cattle: The national average price for feeder steers @ 158.67, 0.77 higher with trade mostly 3.00 lower to 4.00 higher. In the 3 front months, Feeder Cattle futures closed 0.58 to 2.13 lower.
Stocker Calves: The national average price for stocker steers @ 191.73, 0.13 higher with trade mostly 4.00 lower to 5.00 higher.
CME Feeder Cattle Index: 154.82, 0.03 lower than last Friday. Boxed Beef Cutouts: Choice cutout 4.48 higher at 262.64 and the Select cutout 1.49 higher at 252.14. The Choice/Select spread was 10.50, 2.99 higher.
Cutter Cow Cutout: 1.52 lower at 228.65.Slaughter Cows: Trade 2.00 lower to 5.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, March 26, 2022 was estimated at 1083.6 million lbs. according to the USDA's Marketing Service. This was 0.9 percent higher than a week ago and 0.9 percent lower than a year ago. Cumulative meat production for the year to date was 3.5 percent lower compared to the previous year.
Grain: Corn was 0.22 higher @ 7.40 with May futures @ 7.5400, 0.1225 higher. Wheat 0.45 lower @ 10.42 and the futures @ 11.0225, up 0.3850.