For the week, slaughter cattle traded 2.00 to 4.00 higher with feeder cattle and stocker calves 2.00 & 3.00 higher. Live Cattle futures were higher with Feeder Cattle futures mixed. 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: -0.50%
Change from 10 Days Ago: +3.73%
60-Day Index Trendline
Change from 60 Days Ago: -1.78%
Change from 60 Day High: -3.80%
Slaughter Cattle: Trade in the South was 2.00 higher at 137.00 and Northern dressed trade 4.00 higher at 226.00. In the 3 front months, Live Cattle futures closed from 2.27 to 2.60 higher. USDA’s most recent carcass weight data showed weights were 6 lbs. lower than last week at 882 lbs., 2 lbs. lighter than a year ago.
Feeder Cattle: The national average price for feeder steers @ 161.77, 2.05 higher with trade mostly 1.00 to 6.00 higher. In the 3 front months, Feeder Cattle futures closed from 0.72 lower to 1.00 higher.
Stocker Calves: The national average price for stocker steers @ 190.40, 3.26 higher with trade 1.00 to 7.00 higher.
CME Feeder Cattle Index: 161.87, 7.58 higher than last week.
Boxed Beef Cutouts: Choice cutout 4.06 higher at 271.32 higher and the Select cutout 1.13 lower at 248.89. The Choice/Select spread at 22.43, 5.19 higher.
Cutter Cow Cutout: 0.41 higher at 220.89.
Slaughter Cows: Trade ranged from 1.00 to 4.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, June 11, 2022 was estimated at 1066.7 million lbs. according to the USDA’s Marketing Service. This was 13.3 percent higher than a week ago and 0.1 percent lower than a year ago. Cumulative meat production for the year to date was 1.5 percent lower compared to the previous year.
Grain: Corn was 0.51 higher @ 7.98 with March futures @ 7.7325, 0.4625 higher. Wheat 0.40 higher @ 11.33 and the futures @ 10.7075, up 0.3075.
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