For the week, slaughter cattle trade was steady to 2.00 lower with feeder cattle and stocker calves higher. Live Cattle & Feeder Cattle futures were lower while dressed beef cutouts and corn 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: -0.26%
Change from 10 Days Ago: +2.33%
60-Day Index Trendline
Change from 60 Days Ago: +4.86%
Change from 60 Day High: -1.18%
Slaughter Cattle: Trade in the South was steady at 137.00 with Northern dressed trade 2.00 lower at 232.00. In the 3 front months, Live Cattle futures closed from 0.65 to 1.02 lower. USDA’s most recent carcass weight data showed weights averaged 883 lbs., 4 lbs. heavier than last week and steady with last year.
Feeder Cattle: The national average price for feeder steers @ 170.40, 1.52 higher with trade 1.00 to 4.00 higher. In the 3 front months, Feeder Cattle futures closed from 2.70 to 2.93 lower.
Stocker Calves: The national average price for stocker steers @ 193.61, 1.64 higher with trade steady to 3.00 higher.
CME Feeder Cattle Index: 168.39, 2.72 higher than last week and a 52 week high.
Boxed Beef Cutouts: Choice cutout 4.07 higher at 267.89 and the Select cutout 1.38 higher at 241.85. The Choice/Select spread at 26.04, 2.69 higher.
Cutter Cow Cutout: 2.79 higher at 220.85.
Slaughter Cows: Trade steady to 1.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, July 09, 2022 was estimated at 907.7 million lbs. according to the USDA’s Marketing Service. This was 10.2 percent lower than a week ago and 3.6 percent higher than a year ago. Cumulative meat production for the year to date was 1.2 percent lower compared to the previous year.
Grain: Corn was 0.04 higher @ 7.59 with September futures @ 6.3355, 0.1350 higher. Wheat 0.20 higher @ 9.01 and the futures @ 8.9150, up 0.4550.