Weekly Market Summary... January 20, 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, feeder, and stocker cattle were all lower, as were cattle futures and dressed beef cutouts.  Grain was 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: +0.38%

Change from 10 Days Ago: -4.86%

   

 60-Day Index Trendline

Change from 60 Days Ago: +2.88%​

Change from 60 Day High:  -5.09%​

 

Slaughter Cattle: Trade in the South 1.00 lower at 155.00 with Northern dressed trade 3.00 lower at 248.00. In the 3 front months, Live Cattle futures closed 0.50 to 0.1.10 lower. USDA’s most recent carcass weight data showed weights averaged 919 lbs., 4 lbs. heavier than last week and 9 lbs. lighter than last year.
  • This Week: 155.00 / Month Ago: 155.00 / Year Ago: 137.00 / 5 Year Avg: 121.48
Feeder Cattle: The national average price for feeder steers @ 175.65, 3.24 lower with trade mostly 2.00 to 5.00 lower. In the 3 front months, Feeder Cattle futures closed from 1.28 to 3.33 lower.
  • This Week: 175.65 / Month Ago: 174.84 / Year Ago: 158.09 / 5 Year Avg: 147.72
Stocker Calves: The national average price for stocker steers @ 205.83, 4.39 lower with trade 3.00 to 7.00 lower.
  • This Week: 205.83 / Month Ago: 200.48 / Year Ago: 185.07 / 5 Year Avg: 169.71
CME Feeder Cattle Index: 177.03, 5.00 lower than last week.
  • This Week: 177.03 / Month Ago: 176.75 / Year Ago: 161.10 / 5 Year Avg: 147.41
Boxed Beef Cutouts: Choice cutout 4.90 lower at 271.72 and the Select cutout 0.46 lower at 256.43. The Choice/Select spread at 15.29, 4.44 lower.
  • This Week: 271.72 / Month Ago: 271.95 / Year Ago: 292.41 / 5 Year Avg: 243.68
Cutter Cow Cutout: 1.75 higher at 195.79
Slaughter Cows: Trade mostly steady to 3.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, January 21, 2023 was estimated at 1088.4 million lbs. according to the USDA’s Agriculture's Marketing Service. This was 3.9 percent lower than a week ago and 1.3 percent higher than a year ago.  Cumulative meat production for the year to date was 0.2 percent higher compared to the previous year.
Grain: Corn was 0.06 higher @ 7.15 with March futures @ 6.7625, 0.0125 higher. Wheat 0.04 higher at 7.98 and the futures @ 7.4150, down 0.0175.