For the week, slaughter cattle were steady to 2.00 higher with feeder cattle and stocker calves slightly lower. Live Cattle futures and Feeder Cattle futures were sharply lower. Dressed beef trade was also lower. Corn traded higher with 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: -1.22%
Change from 10 Days Ago: -2.82%
60-Day Index Trendline
Change from 60 Days Ago: -3.99%
Change from 60 Day High: -7.34%
Slaughter Cattle: Trade in the South was steady at 140.00 and Northern dressed trade 2.00 higher at 232.00. In the 3 front months, Live Cattle futures closed from 3.68 to 5.77 lower. USDA’s most recent carcass weight data showed weights were 3 lbs. lighter than last week at 909 lbs., 11 lbs. more than a year ago.
Feeder Cattle: The national average price for feeder steers @ 159.28, 0.02 lower with trade 1.00 higher to 3.00 lower. In the 3 front months, Feeder Cattle futures closed from 5.48 to 8.63 lower.
Stocker Calves: The national average price for stocker steers @ 190.85, 0.33 lower with trade mostly 1.00 higher to 2.00 lower.
CME Feeder Cattle Index: 155.64, 0.43 higher than last Friday.
Boxed Beef Cutouts: Choice cutout 7.13 lower at 260.68 and the Select cutout 6.80 lower at 247.97. The Choice/Select spread was 12.81, 0.33 lower. The surging U.S. Dollar is approaching levels not seen since 2002, which helps explain why beef sales and exports are both down significantly from last week and the prior 4-week average.
Cutter Cow Cutout: 0.98 lower at 220.55.
Slaughter Cows: Trade steady to 3.00 lower.
Total red meat production under Federal inspection for the week ending Saturday, April 30, 2022 was estimated at 1073.6 million lbs. according to the USDA's Marketing Service. This was 0.1 percent lower than a week ago and 0.6 percent higher than a year ago. Cumulative meat production for the year to date was 2.5 percent lower compared to the previous year.
Grain: Corn was 0.25 higher @ 8.19 with May futures @ 8.1825, 0.2925 higher. Wheat 0.44 lower @ 10.41 and the futures @ 10.4375, down 0.3150.
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