For the week, slaughter cattle were steady with feeder and stocker cattle about 1.50 lower. Live Cattle futures were lower with Feeder Cattle futures sharply lower. Dressed beef was mixed with the choice cutout higher and the select cutout lower. Both corn & wheat surged 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: -0.30%
Change from 10 Days Ago: -2.78%
60-Day Index Trendline
Change from 60 Days Ago: -7.60%
Change from 60 Day High: -7.90%
Slaughter Cattle: Trade in the South was steady at 138.00 and Northern dressed trade also steady at 222.00. In the 3 front months, Live Cattle futures closed from 0.83 to 2.03 lower. USDA’s most recent carcass weight data showed weights were 6 lbs. lighter than last week at 910 lbs., but still 11 lbs. more than a year ago.
Feeder Cattle: The national average price for feeder steers @ 158.96, 1.32 lower with trade 1.00 higher to 4.00 lower. In the 3 front months, Feeder Cattle futures closed from 2.80 to 6.75 lower.
Stocker Calves: The national average price for stocker steers @ 192.34, 1.82 lower with trade mostly 1.00 higher to 5.00 lower.
CME Feeder Cattle Index: 156.01, 0.04 lower than last Friday.
Boxed Beef Cutouts: Choice cutout 3.33 higher at 270.47 and the Select cutout 2.19 lower at 260.33. The Choice/Select spread was 10.14, 5.52 higher.
Cutter Cow Cutout: 1.58 lower at 227.86.
Slaughter Cows: Trade 4.00 lower to 3.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, April 09, 2022 was estimated at 1097.9 million lbs. according to the USDA's Marketing Service. This was 2.7 percent higher than a week ago and 2.7 percent higher 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 0.38 lower @ 7.65 with May futures @ 7.6875, 0.3375 higher. Wheat 0.95 higher @ 10.44 and the futures @ 10.5150, up 0.6700.
