For the week, slaughter cattle trade was mixed with feeder cattle and stocker calves higher. Live Cattle futures were lower with Feeder Cattle futures mixed. Dressed beef cutouts and corn were lower.
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: -0.58%
Change from 10 Days Ago: +4.13%
60-Day Index Trendline
Change from 60 Days Ago: +0.33%
Change from 60 Day High: -0.75%
Slaughter Cattle: Trade in the South was 3.00 lower at 137.00 while Northern dressed trade was 4.00 higher at 234.00. In the 3 front months, Live Cattle futures closed from 2.67 to 3.20 lower. USDA’s most recent carcass weight data showed weights were down 3 lbs. to 879 lbs., 3 lbs. lighter than last week and a year ago, and the lowest for that week since 2019.
Feeder Cattle: The national average price for feeder steers @ 165.81, 1.99 higher with trade mostly 1.00 to 4.00 higher. In the 3 front months, Feeder Cattle futures closed from 0.45 lower to 0.55 higher.
Stocker Calves: The national average price for stocker steers @ 190.62, 1.55 higher with trade 1.00 lower to 4.00 higher.
CME Feeder Cattle Index: 163.71, 1.54 higher than last week.
Boxed Beef Cutouts: Choice cutout 1.28 lower at 264.98 and the Select cutout 1.51 lower at 245.02. The Choice/Select spread at 19.96, 0.23 higher.
Cutter Cow Cutout: 2.12 higher at 222.31.
Slaughter Cows: Trade ranged from 2.00 lower to 3.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, June 25, 2022 was estimated at 1041.6 million lbs. according to USDA’s Marketing Service This was 1.7 percent lower than a week ago and 0.7 percent higher than a year ago. Cumulative meat production for the year to date was 1.4 percent lower compared to the previous year.
Grain: Corn was 0.20 lower @ 7.94 with July futures @ 7.5025, 0.3425 lower. Wheat 1.12 lower @ 9.63 and the futures @ 9.2375, down 1.1075.