Weekly Market Summary... February 17, 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 2.00 higher with trade in the North 3.00 higher. Feeder Cattle were only slightly higher while stocker cattle traded over 2.00 higher. Live Cattle futures were higher with Feeder Cattle futures slightly lower. Dressed beef cutouts were sharply higher with grain lower.
   

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: +0.85%

Change from 10 Days Ago: +3.50%

   

 60-Day Index Trendline

Change from 60 Days Ago: +9.15%​

Change from 60 Day High:    0.00%​

 

Slaughter Cattle: Trade in the South 2.00 higher at 162.00 with Northern trade 3.00 higher at 257.00 on a dressed basis. In the 3 front months, Live Cattle futures closed 0.37 to 2.37 higher. USDA’s most recent carcass weight data showed weights averaged 908 lbs., 2 lbs. lighter than last week and 22 lbs. lighter than last year.
  • This Week: 162.00 / Month Ago: 155.00 / Year Ago: 142.00 / 5 Year Avg: 122.00
Feeder Cattle: The national average price for feeder steers @ 182.56, 0.21 higher with trade mostly 2.00 lower to 3.00 higher. In the 3 front months, Feeder Cattle futures closed from 0.22 lower to 0.12 higher.
  • This Week: 182.56 / Month Ago: 175.65 / Year Ago: 162.09 / 5 Year Avg: 148.27
Stocker Calves: The national average price for stocker steers @ 221.34, 2.66 higher with trade mostly 1.00 lower to 4.00 higher.
  • This Week: 221.34 / Month Ago: 205.83 / Year Ago: 195.59/ 5 Year Avg: 170.41
CME Feeder Cattle Index: 182.63, 0.46 lower than last week.
  • This Week: 182.63 / Month Ago: 177.03 / Year Ago: 162.14 / 5 Year Avg: 147.88
Boxed Beef Cutouts: Choice cutout 11.38 higher at 281.04 and the Select cutout 11.60 higher at 255.89. The Choice/Select spread at 15.15, 0.22 lower.
  • This Week: 281.04 / Month Ago: 271.72 / Year Ago: 265.85 / 5 Year Avg: 244.62
Cutter Cow Cutout: 2.57 higher at 204.37
Slaughter Cows: Trade mostly 1.00 lower to 4.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, February 18, 2023 was estimated at 1064.5 million lbs. according to the USDA’s Agriculture's Marketing Service.  This was 0.1 percent higher than a week ago and 3.9 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 0.05 lower @ 7.03 with March futures @ 6.7775, 0.0275 lower. Wheat 0.02 lower at 8.77 and the futures @ 7.6550, down 0.2350.