Weekly Market Summary... February 16, 2024

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

View Complete Summary • • Subscribe to receive via e-mail • • Archive

For the week, fed cattle trade in the Southern Plains was higher and steady in the Northern Plains.  Both feeder cattle and stocker calves were higher. Live cattle futures and feeder cattle futures were mixed. The dressed beef cutouts were higher with corn lower.
   

Cattle/Beef Market Velocity Trendlines +/-

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: +2.84%

Change from 10 Days Ago:  +10.18%

   

 60-Day Index Trendline

Change from 60 Days Ago: +39.19%​

Change from 60 Day High:  0.00%​

 

Fed Cattle: Southern Plains trade was 1.00 higher at 180.00 with Northern Plains trade steady at 180.00. In the 3 front months, Live Cattle futures closed the week from 1.15 lower to 0.83 higher. USDA’s carcass weight data showed weights averaged 909 lbs. this week, compared to 912 lbs. last week, and 908 lbs. last year.
  • S: This Week: 180.00 / Month Ago: 172.00 / Year Ago: 162.00 / 5 Year Avg: 133.53
  • N: This Week: 180.00 / Month Ago: 174.00 / Year Ago: 162.00 / 5 Year Avg: 135.26
Feeder Cattle: The national average price for feeder steers was 246.57, 2.19 higher with trade mostly 1.00 lower to 5.00 higher. In the 3 front months, Feeder Cattle futures closed the week from 0.05 lower to 3.87 higher.
  • This Week: 246.57 / Month Ago: 230.43 / Year Ago: 182.56 / 5 Year Avg: 164.78
Stocker Calves: The national average price for stocker steers was 307.49, 2.83 higher with trade mostly steady to 6.00 higher.
  • This Week: 307.49 / Month Ago: 285.19 / Year Ago: 221.34 / 5 Year Avg: 190.48
CME Feeder Cattle Index: 244.58, 1.63 higher than last Friday.
  • This Week: 244.58 / Month Ago: 227.26 / Year Ago: 182.63 / 5 Year Avg: 163.24
Boxed Beef Cutouts: The Choice cutout was 2.16 higher at 296.20 and the Select cutout 1.58 higher at 286.66. The Choice/Select spread at 9.54, 0.58 wider.
  • This Week: 296.20 / Month Ago: 295.50 / Year Ago: 281.04 / 5 Year Avg: 262.12
Cutter Cow Cutout: 2.47 higher at 236.36.
Slaughter Cows: Trade mostly 2.00 lower to 3.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, February 17th was estimated at 1066.2 million lbs. according to the USDA Marketing Service. This was 2.5 percent lower than a week ago and 0.9 percent higher than a year ago.  Cumulative meat production for the year to date was 1.9 percent lower compared to the previous year.
Corn: Omaha Corn was 0.09 lower at 4.31 with March futures at 4.1625, 0.1250 lower.

 

View Complete Summary... 

The summary contains 40+ pages of market data, charts, auction results, etc., with a convenient index at the top from which you can ‘click’ on content of interest and not have to scroll through all of the pages.