Weekly Market Summary... February 10, 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 in the South were 4.00 higher with trade in the North 6.00 higher. Feeder and stocker cattle were 2.50 to 6.00 higher respectively. Live Cattle futures and Feeder Cattle futures were slightly higher to slightly lower. Dressed beef cutouts and grain were both 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: +0.35%

Change from 10 Days Ago: +3.46%

   

 60-Day Index Trendline

Change from 60 Days Ago: +6.05%​

Change from 60 Day High:    0.00%​

 

Slaughter Cattle: Trade in the South 4.00 higher at 160.00 with Northern trade 6.00 higher at 254.00 on a dressed basis. In the 3 front months, Live Cattle futures closed 0.52 lower to 0.93 higher. USDA’s most recent carcass weight data showed weights averaged 910 lbs., 5 lbs. lighter than last week and 18 lbs. lighter than last year.
  • This Week: 160.00 / Month Ago: 156.00 / Year Ago: 140.00 / 5 Year Avg: 121.87
Feeder Cattle: The national average price for feeder steers @ 182.35, 2.59 higher with trade 1.00 to 5.00 higher. In the 3 front months, Feeder Cattle futures closed from 0.05 to 0.42 lower.
  • This Week: 182.35 / Month Ago: 178.89 / Year Ago: 162.81 / 5 Year Avg: 148.12
Stocker Calves: The national average price for stocker steers @ 218.68, 5.96 higher with trade mostly 2.00 to 9.00 higher.
  • This Week: 218.68 / Month Ago: 210.22 / Year Ago: 192.82 / 5 Year Avg: 170.22
CME Feeder Cattle Index: 183.09, 1.64 higher than last week.
  • This Week: 183.09 / Month Ago: 182.03 / Year Ago: 162.64 / 5 Year Avg: 147.74
Boxed Beef Cutouts: Choice cutout 4.92 higher at 269.66 and the Select cutout 2.68 higher at 254.29. The Choice/Select spread at 15.37, 2.24 higher.
  • This Week: 269.66 / Month Ago: 276.82 / Year Ago: 274.52 / 5 Year Avg: 244.38
Cutter Cow Cutout: 3.49 higher at 201.80
Slaughter Cows: Trade mostly 2.00 to 8.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, February 11, 2023 was estimated at 1066.5 million lbs. according to the USDA’s Agriculture's Marketing Service. This was 3.0 percent lower than a week ago and 4.3 percent lower than a year ago.  Cumulative meat production for the year to date was 0.3 percent lower compared to the previous year.
Grain: Corn was 0.04 lower @ 7.08 with March futures @ 6.8050, 0.0300 higher. Wheat 0.56 higher at 8.79 and the futures @ 7.8900, up 0.3225.