Weekly Market Overview for Week Ending 6/17/22

For the week, slaughter cattle traded 3.00 to 4.00 higher with feeder cattle 2.00 higher and stocker calves 1.00 lower. Live Cattle futures were higher with Feeder Cattle futures lower. Dressed beef cutouts were lower and corn was 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: +1.43%

Change from 10 Days Ago: +1.88%

   

 60-Day Index Trendline

Change from 60 Days Ago: -0.54%​

Change from 60 Day High: -3.14%​

 

Slaughter Cattle: Trade in the South was 3.00 higher at 140.00 and Northern dressed trade 4.00 higher at 230.00. In the 3 front months, Live Cattle futures closed from 0.45 to 1.82 higher. USDA’s most recent carcass weight data showed weights steady with  last week at 882 lbs., 9 lbs. lighter than a year ago.

Feeder Cattle: The national average price for feeder steers @ 163.82, 2.05 higher with trade mostly 1.00 to 5.00 higher. In the 3 front months, Feeder Cattle futures closed from 1.03 to 1.92 lower.

Stocker Calves: The national average price for stocker steers @ 189.07, 1.33 lower with trade steady to 4.00 lower.

CME Feeder Cattle Index: 162.17, 0.30 higher than last week.

Boxed Beef Cutouts: Choice cutout 5.06 lower at 266.26 and the Select cutout 2.36 lower at 246.53. The Choice/Select spread at 19.73, 2.70 lower. 

Cutter Cow Cutout: 0.70 lower at 220.19.

Slaughter Cows: Trade ranged from steady to 4.00 higher.

Total red meat production under Federal inspection for the week ending Saturday, June 18, 2022 was estimated at 1059.7 million lbs. according to USDA’s Marketing Service. This was 0.7 percent lower than a week ago and 0.1 percent higher than a year ago.  Cumulative meat production for the year to date was 1.4 percent lower compared to the previous year.

Grain: Corn was 0.16 higher @ 8.14 with March futures @ 7.8450, 0.1125 higher. Wheat 0.58 lower @ 10.75 and the futures @ 10.3450, down 0.3625.

 

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