Weekly Market Overview for Week Ending 5/13/22

For the week, slaughter cattle in the South were steady with trade in the North 2.00 lower.  Both feeder cattle and stocker calves had another week of lower prices. Live Cattle and Feeder Cattle futures were lower. Dressed beef trade was mixed with the Choice cutout higher and Select lower. Corn traded lower with wheat 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: +0.76%

Change from 10 Days Ago: -3.63%

   

 60-Day Index Trendline

Change from 60 Days Ago: -6.05%​

Change from 60 Day High: -8.62%​

 

Slaughter Cattle: Trade in the South was steady at 140.00 and Northern dressed trade 2.00 lower at 230.00. In the 3 front months, Live Cattle futures closed from 0.68 to 3.02 lower. USDA’s most recent carcass weight data showed weights were 5 lbs. lighter than last week at 901 lbs., 10 lbs. more than a year ago.

Feeder Cattle: The national average price for feeder steers @ 159.70, 0.27 lower with trade 2.00 higher to 3.00 lower. In the 3 front months, Feeder Cattle futures closed from 1.68 to 7.28 lower.

Stocker Calves: The national average price for stocker steers @ 189.50, 1.07 lower with trade mostly 1.00 higher to 3.00 lower.

CME Feeder Cattle Index: 156.36, 0.76 higher than last Friday.

Boxed Beef Cutouts: Choice cutout 4.51 higher at 258.95 and the Select cutout 1.16 lower at 243.90. The Choice/Select spread was 15.05, 5.67 higher.  

Cutter Cow Cutout: 1.09 lower at 217.92.

Slaughter Cows: Trade steady to 3.00 lower.

Total red meat production under Federal inspection for the week ending Saturday, May 14, 2022 was estimated at 1066.4 million lbs. according to USDA's Marketing Service. This was 0.9 percent lower than a week ago and 1.9 percent higher than a year ago.  Cumulative meat production for the year to date was 2.1 percent lower compared to the previous year.

Grain: Corn was 0.04 lower @ 7.86 with July futures @ 7.8125, 0.0350 lower. Wheat 1.11 higher @ 12.22 and the futures @ 11.7750, up 0.6400.

 

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