For the week, slaughter cattle were 2.00 to 3.00 higher with feeder cattle and stocker calves 1.00 to 2.00 lower. Live Cattle & Feeder Cattle Futures and corn were lower. Dressed beef cutouts continued their downward spiral. The surging U.S. Dollar, currently at a 20 year high and 21% higher than 1 year ago, is not friendly to beef exports.
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: +0.30%
Change from 10 Days Ago: -3.82%
60-Day Index Trendline
Change from 60 Days Ago: -2.91%
Change from 60 Day High: -7.56%
Slaughter Cattle: Trade in the South was 2.00 higher at 144.00 with Northern dressed trade 3.00 higher at 230.00. In the 3 front months, Live Cattle futures closed from 1.25 to 2.42 lower. USDA’s most recent carcass weight data showed weights averaged 914 lbs., 10 lbs. heavier than last week and 5 lbs. heavier than last year.
Feeder Cattle: The national average price for feeder steers @ 179.78, 0.93 lower with trade mostly 1.00 higher to 4.00 lower. In the 3 front months, Feeder Cattle futures closed from 3.80 to 4.42 lower.
Stocker Calves: The national average price for stocker steers @ 198.17, 2.14 lower with trade mostly 1.00 to 4.00 lower.
CME Feeder Cattle Index: 178.12, 1.30 higher than last week.
Boxed Beef Cutouts: Choice cutout 3.77 lower at 248.63 and the Select cutout 7.34 lower at 219.31. The Choice/Select spread at 29.32, 3.57 higher.
Cutter Cow Cutout: 1.38 lower at 210.06.
Slaughter Cows: Trade 1.00 to 3.00 lower.
Total red meat production under Federal inspection for the week ending Saturday, September 24, 2022 was estimated at 1086.3 million lbs. according to the USDA’s Agriculture's Marketing Service. This was 1.8 percent higher than a week ago and 0.5 percent higher than a year ago. Cumulative meat production for the year to date was 0.7 percent lower compared to the previous year.
Grain: Corn was 0.08 higher @ 7.48 with December futures @ 6.7675, 0.0050 lower. Wheat unchanged @ 8.95 and the futures @ 8.8050, up 0.2075.