For the week, slaughter cattle were steady to 1.00 higher with feeders & stockers 1.50 to 2.50 higher. Live Cattle futures were lower with Feeder Cattle futures mixed. Dressed beef was higher with the start of the grilling season another week closer. Corn & wheat traded 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: -0.26%
Change from 10 Days Ago: +1.28%
60-Day Index Trendline
Change from 60 Days Ago: -3.59%
Change from 60 Day High: -5.16%
Slaughter Cattle: Trade in the South was steady at 138.00 and Northern dressed trade 1.00 higher at 222.00. In the 3 front months, Live Cattle futures closed from 1.22 to 1.82 lower. USDA’s most recent carcass weight data showed weights were 1 lb. lighter than last week at 916 lbs., 15 lbs. more than a year ago.
Feeder Cattle: The national average price for feeder steers @ 160.29, 1.61 higher with trade 2.00 lower to 4.00 higher. In the 3 front months, Feeder Cattle futures closed steady to 0.80 higher.
Stocker Calves: The national average price for stocker steers @ 194.16, 2.43 higher with trade mostly 1.00 lower to 4.00 higher.
CME Feeder Cattle Index: 156.05, 1.23 higher than last Friday.
Boxed Beef Cutouts: Choice cutout 4.50 higher at 267.14 and the Select cutout 10.38 higher at 262.52. The Choice/Select spread was 4.62, 5.88 lower.
Cutter Cow Cutout: 0.69 higher at 229.44.
Slaughter Cows: Trade 2.00 lower to 3.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, April 02, 2022 was estimated at 1071 million lbs. according to USDA's Marketing Service. This was 1.2 percent lower than a week ago and 3.4 percent higher than a year ago. Cumulative meat production for the year to date was 3.1 percent lower compared to the previous year.
Grain: Corn was 0.13 lower @ 7.27 with May futures @ 7.3500, 0.1900 lower. Wheat 0.93 lower @ 9.48 and the futures @ 9.8450, down 1.1775.
