Weekly Market Summary... January 13, 2023

A look at the week’s prices, trends, and news for the cattle/beef complex.

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For the week, slaughter cattle traded lower with feeder and stocker cattle higher. Live cattle futures were higher with feeder cattle futures lower. Dressed beef cutouts were lower with grain 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: -0.81%

Change from 10 Days Ago: -1.06%

   

 60-Day Index Trendline

Change from 60 Days Ago: +6.91%​

Change from 60 Day High:  -2.34%​

 

Slaughter Cattle: Trade in the South 1.00 lower at 156.00 with Northern dressed trade also 1.00 lower at 251.00. In the 3 front months, Live Cattle futures closed 0.23 to 0.95 higher. USDA’s most recent carcass weight data showed weights averaged 915 lbs., 5 lbs. lighter than last week and 13 lbs. lighter than last year.
  • This Week: 156.00 / Month Ago: 155.00 / Year Ago: 137.00 / 5 Year Avg: 121.35
Feeder Cattle: The national average price for feeder steers @ 178.89, 0.38 higher with trade mostly 2.00 lower to 3.00 higher. In the 3 front months, Feeder Cattle futures closed from 1.45 to 3.78 lower.
  • This Week: 178.89 / Month Ago: 175.36 / Year Ago: 158.36 / 5 Year Avg: 147.59
Stocker Calves: The national average price for stocker steers @ 210.22, 3.99 higher with trade 2.00 to 8.00 higher.
  • This Week: 210.22 / Month Ago: 201.52 / Year Ago: 182.30 / 5 Year Avg: 169.53
CME Feeder Cattle Index: 182.03, 1.71 higher than last week.
  • This Week: 182.03 / Month Ago: 179.51 / Year Ago: 161.79 / 5 Year Avg: 147.28
Boxed Beef Cutouts: Choice cutout 6.37 lower at 276.62 and the Select cutout 2.45 lower at 256.89. The Choice/Select spread at 19.73, 3.92 lower.
  • This Week: 276.62 / Month Ago: 262.83 / Year Ago: 284.31 / 5 Year Avg: 243.40
Cutter Cow Cutout: 1.75 higher at 195.79
Slaughter Cows: Trade mostly 1.00 to 4.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, January 14, 2023 was estimated at 1133 million lbs. according to the USDA’s Agriculture's Marketing Service. This was 17.2 percent higher than a week ago and 9.0 percent higher than a year ago.  Cumulative meat production for the year to date was 1.1 percent lower compared to the previous year.
Grain: Corn was 0.20 higher @ 7.09 with March futures @ 6.7500, 0.2100 higher. Wheat 0.05 higher at 7.94 and the futures @ 7.4325, down 0.0025.