For the week, slaughter cattle were 1.00 to 4.00 higher with feeder cattle slightly higher and stocker calves lower. Live Cattle futures and Feeder Cattle futures were both higher. Dressed beef was mixed with the choice cutout higher and the select cutout lower. Both corn & wheat traded higher again this week.
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: +0.05%
60-Day Index Trendline
Change from 60 Days Ago: -6.70%
Change from 60 Day High: -6.70%
Slaughter Cattle: Trade in the South was 1.00 higher at 139.00 and Northern dressed trade 4.00 higher at 226.00. In the 3 front months, Live Cattle futures closed from 2.47 to 2.85 higher. USDA’s most recent carcass weight data showed weights were 1 lb. lighter than last week at 909 lbs., but still 15 lbs. more than a year ago.
Feeder Cattle: The national average price for feeder steers @ 159.20, 0.24 higher with trade 2.00 higher to 1.00 lower. In the 3 front months, Feeder Cattle futures closed from 0.80 to 2.40 higher.
Stocker Calves: The national average price for stocker steers @ 190.95, 1.39 lower with trade mostly 2.00 higher to 4.00 lower.
CME Feeder Cattle Index: 155.95, 0.06 lower than last Friday.
Boxed Beef Cutouts: Choice cutout 2.15 higher at 272.62 and the Select cutout 1.43 lower at 258.90. The Choice/Select spread was 13.72, 3.58 higher.
Cutter Cow Cutout: 0.42 lower at 227.44.
Slaughter Cows: Trade steady to 3.00 lower.
Total red meat production under Federal inspection for the week ending Saturday, April 16, 2022 was estimated at 1043.8 million lbs. according to the USDA's Marketing Service. This was 4.5 percent lower than a week ago and 2.1 percent lower than a year ago. Cumulative meat production for the year to date was 2.7 percent lower compared to the previous year.
Grain: Corn was 0.24 higher @ 7.89 with May futures @ 7.9025, 0.2159 higher. Wheat 0.48 higher @ 10.92 and the futures @ 10.9650, up 0.4500.
