For the week, slaughter cattle were steady with feeder cattle slightly higher and stocker calves slightly lower. Live Cattle futures were slightly higher with Feeder Cattle futures showing strength. Dressed beef trade continued its downward trend. Corn traded lower with wheat 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: -0.26%
Change from 10 Days Ago: -2.09%
60-Day Index Trendline
Change from 60 Days Ago: -2.03%
Change from 60 Day High: -6.08%
Slaughter Cattle: Trade in the South was steady at 140.00 and Northern dressed trade steady at 232.00. In the 3 front months, Live Cattle futures closed from 0.08 to 0.40 higher. USDA’s most recent carcass weight data showed weights were 3 lbs. lighter than last week at 906 lbs., 10 lbs. more than a year ago.
Feeder Cattle: The national average price for feeder steers @ 159.98, 0.02 lower with trade steady to 3.00 higher. In the 3 front months, Feeder Cattle futures closed from 3.20 to 6.53 higher.
Stocker Calves: The national average price for stocker steers @ 190.57, 0.28 lower with trade mostly 2.00 higher to 3.00 lower.
CME Feeder Cattle Index: 155.60, 0.04 lower than last Friday.
Boxed Beef Cutouts: Choice cutout 6.34 lower at 254.44 and the Select cutout 2.91 lower at 245.06. The Choice/Select spread was 9.38, 3.43 lower.
Cutter Cow Cutout: 1.54 lower at 219.01.
Slaughter Cows: Trade 1.00 to 3.00 lower.
Total red meat production under Federal inspection for the week ending Saturday, May 07, 2022 was estimated at 1078.8 million lbs. according to USDA's Marketing Service. This was 1.3 percent higher than a week ago and 3.2 percent higher than a year ago. Cumulative meat production for the year to date was 2.2 percent lower compared to the previous year.
Grain: Corn was 0.29 lower @ 7.90 with July futures @ 7.8475, 0.3350 lower. Wheat 0.70 higher @ 11.11 and the futures @ 11.0850, up 0.6475.