For the week, slaughter cattle trade was 1.00 to 2.00 lower with both feeder cattle and stocker calves higher. Live Cattle & Feeder Cattle Futures were lower while 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: +0.71%
Change from 10 Days Ago: +0.76%
60-Day Index Trendline
Change from 60 Days Ago: +13.38%
Change from 60 Day High: -1.93%
Slaughter Cattle: Trade in the South was 1.00 lower at 135.00 with Northern dressed trade 2.00 lower at 225.00. In the 3 front months, Live Cattle futures closed from 0.02 to 0.92 lower. USDA’s most recent carcass weight data showed weights averaged 889 lbs., 1 lb. lighter than last week and 1 lb. above last year.
Feeder Cattle: The national average price for feeder steers @ 174.32, 0.78 higher with trade 1.00 lower to 3.00 higher. In the 3 front months, Feeder Cattle futures closed from 2.92 to 3.28 lower.
Stocker Calves: The national average price for stocker steers @ 196.19, 1.58 higher with trade 1.00 lower to 4.00 higher.
CME Feeder Cattle Index: 172.31, 1.30 higher than last week.
Boxed Beef Cutouts: Choice cutout 2.12 higher at 269.24 higher and the Select cutout 0.25 lower at 242.25. The Choice/Select spread at 26.99, 2.37 higher.
Cutter Cow Cutout: 2.67 lower at 213.91.
Slaughter Cows: Trade 2.00 lower to 3.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, July 30, 2022 was estimated at 1031.9 million lbs. according to USDA’s Marketing Service. This was 0.4 percent higher than a week ago and 2.0 percent higher than a year ago. Cumulative meat production for the year to date was 1 percent lower compared to the previous year.
Grain: Corn was 0.54 higher @ 7.58 with September futures @ 6.1625, 0.5200 higher. Wheat 0.57 higher @ 8.30 and the futures @ 8.0775, up 0.4875.