Weekly Market Summary... May 26, 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 trade in the South was 1.00 higher with Northern trade 3.00 higher. Feeder cattle and stocker calves traded 4.50 and 2.00 higher respectively. Live Cattle futures were higher and Feeder Cattle futures were lower. The dressed beef cutouts and grain were 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: +0.56%

Change from 10 Days Ago:  +5.84%

   

 60-Day Index Trendline

Change from 60 Days Ago: +16.92%​

Change from 60 Day High:   0.00%​

 

Fed Cattle: Cattle in the South traded at 171.00 with Northern trade at 181.00. In the 3 front months, Live Cattle futures closed 0.87 to 1.63 higher. USDA’s most recent carcass weight data showed weights averaged 891 lbs., compared to 895 lbs. last week and 891 lbs. last year.
  • S-This Week: 171.00 / Month Ago: 173.00 / Year Ago: 137.00 / 5 Year Avg: 124.33
  • N-This Week: 181.00 / Month Ago: 179.00 / Year Ago: 142.00 / 5 Year Avg: 126.82
Feeder Cattle: The national average price for feeder steers @ 219.33, 4.53 higher with trade steady to 6.00 higher. In the 3 front months, Feeder Cattle futures closed from 0.35 to 1.18 lower.
  • This Week: 219.33 / Month Ago: 210.69 / Year Ago: 158.86 / 5 Year Avg: 151.43
Stocker Calves: The national average price for stocker steers @ 262.69, 2.07 higher with trade mostly 1.00 lower to 6.00 higher.
  • This Week: 262.69 / Month Ago: 254.48 / Year Ago: 186.86 / 5 Year Avg: 174.38
CME Feeder Cattle Index: 209.86, 7.50 higher than last Friday.
  • This Week: 209.86 / Month Ago: 203.20 / Year Ago: 154.72 / 5 Year Avg: 150.78
Boxed Beef Cutouts: Choice cutout 2.83 higher at 303.93 and the Select cutout 0.98 higher at 284.92. The Choice/Select spread at 19.01, 1.85 higher.
  • This Week: 303.93 / Month Ago: 311.44 / Year Ago: 265.42 / 5 Year Avg: 248.83
Cutter Cow Cutout: 1.09 higher at 222.30.
Slaughter Cows: Trade mostly 2.00 to 7.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, May 27, 2023 was estimated at 1024.5 million lbs. according to the USDA’s Agricultures Marketing Service. This was 2.0 percent lower than a week ago and 0.5 percent lower than a year ago.  Cumulative meat production for the year to date was 2 percent lower compared to the previous year.
Grain: Omaha Corn was 0.43 higher @ 6.66 with July futures @ 6.0400, 0.4950 higher. Wheat 0.05 lower at 7.89 and July futures @ 6.1600, up 0.1100.