For the week, slaughter cattle traded 1.00 to 2.00 lower with feeder cattle slightly higher and stocker calves about 1.50 lower. Live Cattle and Feeder Cattle futures were both higher. Dressed beef cutouts and corn were 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: -0.35%
Change from 10 Days Ago: +0.04%
60-Day Index Trendline
Change from 60 Days Ago: -9.21%
Change from 60 Day High: -9.21%
Slaughter Cattle: Trade in the South was 1.00 lower at 137.00 and Northern dressed trade 2.00 lower at 224.00. In the 3 front months, Live Cattle futures closed from 0.60 to 85 higher. USDA’s most recent carcass weight data showed weights were 7 lbs. lower than last week at 891 lbs., 3 lbs. lighter than a year ago, which was the first drop since January.
Feeder Cattle: The national average price for feeder steers @ 158.86, 0.32 higher with trade mostly 2.00 lower to 2.00 higher. In the 3 front months, Feeder Cattle futures closed from 2.30 to 2.40 higher.
Stocker Calves: The national average price for stocker steers @ 186.88, 1.64 lower with trade 1.00 higher to 3.00 lower.
CME Feeder Cattle Index: 154.72, 1.67 higher than last week.
Boxed Beef Cutouts: Choice cutout 3.25 higher at 265.43 and the Select cutout 3.48 higher at 246.50. The Choice/Select spread at 18.92, 0.23 lower.
Cutter Cow Cutout: 1.73 higher at 221.13.
Slaughter Cows: Trade steady 1.00 lower.
Total red meat production under Federal inspection for the week ending Saturday, May 28, 2022 was estimated at 1046.1 million lbs. according to USDA’s Marketing Service. This was 4.3 percent lower than a week ago and 2.0 percent higher than a year ago. Cumulative meat production for the year to date was 1.8 percent lower compared to the previous year.
Grain: Corn was 0.08 higher @ 7.97 with March futures @ 7.7725, 0.0150 lower. Wheat 0.19 lower @ 12.05 and the futures @ 11.5750, down 0.1125.