For the week, slaughter cattle traded 2.00 lower with feeder cattle and stocker calves slightly higher. Live Cattle and Feeder Cattle futures were both higher. Dressed beef cutouts were higher and corn was sharply 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: +0.22%
Change from 10 Days Ago: +4.51%
60-Day Index Trendline
Change from 60 Days Ago: -3.48%
Change from 60 Day High: -4.46%
Slaughter Cattle: Trade in the South was 2.00 lower at 135.00 and Northern dressed trade also 2.00 lower at 222.00. In the 3 front months, Live Cattle futures closed from 1.43 to 1.65 higher. USDA’s most recent carcass weight data showed weights were 3 lbs. lower than last week at 888 lbs., unchanged from a year ago.
Feeder Cattle: The national average price for feeder steers @ 159.72, 0.86 higher with trade mostly 1.00 lower to 2.00 higher. In the 3 front months, Feeder Cattle futures closed from 6.45 to 7.55 higher.
Stocker Calves: The national average price for stocker steers @ 187.14, 0.26 higher with trade 4.00 lower to 3.00 higher.
CME Feeder Cattle Index: 154.29, 0.43 lower than last week.
Boxed Beef Cutouts: Choice cutout 1.84 higher at 267.26 and the Select cutout 3.52 higher at 250.02. The Choice/Select spread at 17.24, 1.68 lower.
Cutter Cow Cutout: 0.65 lower at 220.48.
Slaughter Cows: Trade ranged from 1.00 lower to 2.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, June 04, 2022 was estimated at 941.7 million lbs. according to USDA’s Marketing Service This was 9.9 percent lower than a week ago and 7.4 percent higher 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 0.50 lower @ 7.47 with March futures @ 7.2700, 0.5025 lower. Wheat 1.12 lower @ 10.93 and the futures @ 10.4000, down 1.1750.
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