Weekly Market Overview for Week Ending 7/1/22

For the week, slaughter cattle trade was mostly steady with feeder cattle and stocker calves higher. Live Cattle & Feeder Cattle futures were higher while dressed beef cutouts and corn were lower.

   

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: +1.37%

Change from 10 Days Ago: +4.16%

   

 60-Day Index Trendline

Change from 60 Days Ago: +4.41%​

Change from 60 Day High: 0.00%​

 

Slaughter Cattle: Trade in the South was steady at 137.00 with Northern dressed trade also steady at 234.00. In the 3 front months, Live Cattle futures closed from 0.52 to 1.23 higher. USDA’s most recent carcass weight data showed weights averaged 879 lbs., steady with both last week and last year.

Feeder Cattle: The national average price for feeder steers @ 168.88, 3.07 higher with trade 1.00 to 6.00 higher. In the 3 front months, Feeder Cattle futures closed from 2.00 to 3.38 higher.

Stocker Calves: The national average price for stocker steers @ 191.97, 1.35 higher with trade steady to 4.00 higher.

CME Feeder Cattle Index: 165.67, 1.96 higher than last week.

Boxed Beef Cutouts: Choice cutout 1.16 lower at 263.82 and the Select cutout 4.55 lower at 240.47. The Choice/Select spread at 23.35, 3.39 higher. 

Cutter Cow Cutout: 4.25 lower at 218.06.

Slaughter Cows: Trade ranged from 3.00 lower to 2.00 higher.

Total red meat production under Federal inspection for the week ending Saturday, July 02, 2022 was estimated at 1012.2 million lbs. according to USDA’s Marketing Service This was 2.8 percent lower than a week ago and 2.2 percent higher than a year ago.  Cumulative meat production for the year to date was 1.3 percent lower compared to the previous year.

Grain: Corn was 0.39 lower @ 7.55 with September futures @ 6.1975, 0.6295 lower. Wheat 0.82 lower @ 8.81 and the futures @ 8.4600, down 0.9050.

 

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