Weekly Market Summary... April 14, 2023

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

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For the week, fed cattle in the South traded 5.00 higher with dressed trade in the North 13.00 higher. Feeder cattle & stocker calves traded 8.00 and 6.00 higher respectively. Live Cattle futures and Feeder Cattle futures were higher, as were dressed beef cutouts and grain.
   

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: -0.22%

Change from 10 Days Ago: +8.83%

   

 60-Day Index Trendline

Change from 60 Days Ago: +18.52%​

Change from 60 Day High:    -0.22%​

 

Fed Cattle: Trade in the South 5.00 higher at 175.00 with Northern trade 13.00 higher at 290.00 on a dressed basis. In the 3 front months, Live Cattle futures closed from 0.40 to 2.68 higher. USDA’s most recent carcass weight data showed weights averaged 898 lbs., 2 lbs. heavier than last week and 12 lbs. lighter than last year.
  • This Week: 175.00 / Month Ago: 164.00 / Year Ago: 139.00 / 5 Year Avg: 123.15
Feeder Cattle: The national average price for feeder steers @ 206.36, 8.28 higher with trade 4.00 to 10.00 higher. In the 3 front months, Feeder Cattle futures closed from 1.35 to 2.78 higher.
  • This Week: 206.36 / Month Ago: 191.26 / Year Ago: 159.20 / 5 Year Avg: 149.72
Stocker Calves: The national average price for stocker steers @ 248.56, 5.77 higher with trade mostly 1.00 to 8.00 higher.
  • This Week: 248.56 / Month Ago: 242.80 / Year Ago: 190.95 / 5 Year Avg: 172.29
CME Feeder Cattle Index: 201.31, 8.09 higher than last Friday.
  • This Week: 201.31 / Month Ago: 187.87 / Year Ago: 155.95 / 5 Year Avg: 149.19
Boxed Beef Cutouts: Choice cutout 11.64 higher at 302.62 and the Select cutout 8.09 higher at 283.87. The Choice/Select spread at 18.75, 3.55 higher.
  • This Week: 302.62 / Month Ago: 283.35 / Year Ago: 272.62 / 5 Year Avg: 246.68
Cutter Cow Cutout: 0.55 lower at 217.04.
Slaughter Cows: Trade ranged from steady to 4.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, April 15, 2023 was estimated at 1034.9 million lbs. according to the USDA’s Agricultures Marketing Service. This was 2.2 percent higher than a week ago and 0.9 percent lower than a year ago.  Cumulative meat production for the year to date was 1.8 percent lower compared to the previous year.
Grain: Corn was 0.20 higher @ 6.93 with May futures @ 6.6625, 0.2275 higher. Wheat 0.17 higher at 8.23 and the futures @ 6.8250, up 0.0700.