Weekly Market Summary... July 12, 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

Compared to last week, fed cattle trade in the Southern Plains was lower with Northern Plains trade steady.  Feeder cattle and stocker calves were slightly higher. Live cattle and feeder cattle futures closed lower, as did the dressed beef cutouts and corn.

Cattle/Beef Market-Strength 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: +0.76%

Change from 10 Days Ago:  -0.67%

   

 60-Day Index Trendline

Change from 60 Days Ago: +17.90%​

Change from 60 Day High:   -1.26%​

 

Fed Cattle: Trade in the Southern Plains was 2.00 lower at 188.00 with Northern Plains trade steady at 198.00. In the 3 front months, Live Cattle futures closed the week from 3.10 to 4.05 lower. USDA’s steer carcass weight data showed weights averaged 911 lbs. this week, compared to 913 lbs. last week and 884 lbs. last year.
  • S: This Week: 188.00 / Month Ago: 187.00 / Year Ago: 178.00 / 5 Year Avg: 138.71
  • N: This Week: 198.00 / Month Ago: 196.00 / Year Ago: 186.00 / 5 Year Avg: 141.63
Feeder Steers: The national average price for feeder steers was 265.13, 0.92 higher with trade mostly 2.00 lower to 3.00 higher. In the 3 front months, Feeder Cattle futures closed the week from 2.82 to 4.67 lower.
  • This Week: 265.13 / Month Ago: 261.39 / Year Ago: 240.83 / 5 Year Avg: 173.92
Stocker Steers: The national average price for stocker steers was 319.74, 0.92 higher with trade 3.00 lower to 4.00 higher.
  • This Week: 319.74 / Month Ago: 321.25 / Year Ago: 275.71 / 5 Year Avg: 202.64
CME Feeder Cattle Index: 261.04, 5.35 higher than last Friday.
  • This Week: 261.04 / Month Ago: 256.13 / Year Ago: 239.45 / 5 Year Avg: 172.16
Boxed Beef Cutout: The Choice cutout was 8.37 lower at 322.06 and the Select cutout 2.75 lower at 302.31. The Choice/Select spread is at 19.75, 5.62 narrower.
  • This Week: 322.06 / Month Ago: 319.89 / Year Ago: 305.04 / 5 Year Avg: 268.95
Cutter Cow Cutout: 1.03 higher at 292.77.
Slaughter Cows: Trade mostly 1.00 lower to 2.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, July 13th was estimated at 1017.2 million lbs. according to the USDA Marketing Service. This was 15.7 percent higher than a week ago and 1.0 percent higher than a year ago.  Cumulative meat production for the year to date was 0.2 percent lower compared to the previous year.
Corn: Omaha Corn was 0.04 lower at 4.21 with September futures at 4.0025, 0.1025 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.