For the week, slaughter cattle traded 2.00 to 4.00 lower with feeder cattle and stocker calves about 1.00 lower. Live Cattle and Feeder Cattle futures were both lower. Dressed beef cutouts were mixed and corn was 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: -0.10%
Change from 10 Days Ago: -5.09%
60-Day Index Trendline
Change from 60 Days Ago: -7.83%
Change from 60 Day High: -10.49%
Slaughter Cattle: Trade in the South was 2.00 lower at 138.00 and Northern dressed trade 4.00 lower at 226.00. In the 3 front months, Live Cattle futures closed from 0.50 to 2.43 lower. USDA’s most recent carcass weight data showed weights were 3 lbs. lower than last week at 898 lbs., 2 lbs. heavier than a year ago.
Feeder Cattle: The national average price for feeder steers @ 158.53, 1.17 lower with trade mostly 1.00 to 3.00 lower. In the 3 front months, Feeder Cattle futures closed from 3.67 to 4.47 lower.
Stocker Calves: The national average price for stocker steers @ 188.48, 1.02 lower with trade steady to 4.00 lower.
CME Feeder Cattle Index: 153.05, 3.31 lower than last week.
Boxed Beef Cutouts: Choice cutout 3.22 higher at 262.17 and the Select cutout 0.88 lower at 243.02. The Choice/Select spread at 19.15, 4.10 higher. Packer margins slipped under $200 per head net last week for the first time since early January 2021.
Cutter Cow Cutout: 1.48 higher at 219.40.
Slaughter Cows: Trade 1.00 to 4.00 lower.
Total red meat production under Federal inspection for the week ending Saturday, May 21, 2022 was estimated at 1092.8 million lbs. according to the USDA’s Marketing Service. This was 2.5 percent higher than a week ago and 2.3 percent higher than a year ago. Cumulative meat production for the year to date was 1.9 percent lower compared to the previous year.
Grain: Corn was 0.03 higher @ 7.89 with March futures @ 7.7875, 0.0250 lower. Wheat 0.01 higher @ 12.23 and the futures @ 11.6875, down 0.0875.