For the week, slaughter cattle trade was 3.00 to 4.00 higher with feeder cattle and stocker calves moderately higher. Live Cattle & Feeder Cattle Futures were slightly higher while dressed beef cutouts were mixed and corn 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: -0.46%
Change from 10 Days Ago: +0.90%
60-Day Index Trendline
Change from 60 Days Ago: +14.45%
Change from 60 Day High: -0.46%
Slaughter Cattle: Trade in the South was 4.00 higher at 140.00 with Northern dressed trade 3.00 higher at 230.00. In the 3 front months, Live Cattle futures closed from 0.65 to 2.35 higher. USDA’s most recent carcass weight data showed weights averaged 894 lbs., 1 lb. heavier than last week and 3 lbs. heavier than last year.
Feeder Cattle: The national average price for feeder steers @ 178.39, 1.68 higher with trade steady to 5.00 higher. In the 3 front months, Feeder Cattle futures closed from 0.05 lower to 0.10 higher.
Stocker Calves: The national average price for stocker steers @ 199.41, 1.56 higher with trade 2 lower to 4.00 higher.
CME Feeder Cattle Index: 178.28, 2.85 higher than last week.
Boxed Beef Cutouts: Choice cutout 0.51 lower at 263.37 higher and the Select cutout 0.92 higher at 239.59. The Choice/Select spread at 23.78, 1.43 lower.
Cutter Cow Cutout: 2.35 lower at 212.01.
Slaughter Cows: Trade 2.00 to 5.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, August 13, 2022 was estimated at 1021.6 million lbs. according to USDA’s Marketing Service. This was 0.4 percent lower than a week ago and 0.5 percent lower than a year ago. Cumulative meat production for the year to date was 1 percent lower compared to the previous year.
Grain: Corn was 0.22 higher @ 7.34 with September futures @ 6.3975, 0.2950 higher. Wheat 0.39 higher @ 8.42 and the futures @ 8.0600, up 0.3025.