Weekly Market Overview for Week Ending 9/16/22

For the week, slaughter cattle were 1.00 higher with feeder cattle and stocker calves 1.50 to 2.00 lower.  Live Cattle & Feeder Cattle Futures and corn were lower. Dressed beef cutouts traded sharply 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: -0.57%

Change from 10 Days Ago: -2.84%

   

 60-Day Index Trendline

Change from 60 Days Ago: +0.03%​

Change from 60 Day High:   -6.09%​

 

Slaughter Cattle: Trade in the South was 1.00 higher at 142.00 with Northern dressed trade also 1.00 higher at 227.00. In the 3 front months, Live Cattle futures closed from unchanged to 0.25 lower. USDA’s most recent carcass weight data showed weights averaged 904 lbs., unchanged from last week and 2 lbs. lighter than last year.

Feeder Cattle: The national average price for feeder steers @ 180.71, 1.85 lower with trade 1.00 higher to 4.00 lower. In the 3 front months, Feeder Cattle futures closed from 3.80 to 4.42 lower.

Stocker Calves: The national average price for stocker steers @ 200.31, 1.48 lower with trade mostly 1.00 to 3.00 lower.

CME Feeder Cattle Index: 176.82, 4.42 lower than last week.

Boxed Beef Cutouts: Choice cutout 4.86 lower at 252.40 and the Select cutout 8.08 lower at 226.85. The Choice/Select spread at 25.75, 3.22 higher. 

Cutter Cow Cutout: 1.07 higher at 211.44.

Slaughter Cows: Trade 2.00 higher to 3.00 lower.

Total red meat production under Federal inspection for the week ending Saturday, September 17, 2022 was estimated at 1067.1 million lbs. according to the USDA’s Agriculture's Marketing Service. This was 10.4 percent higher than a week ago and 0.8 percent lower than a year ago.  Cumulative meat production for the year to date was 0.8 percent lower compared to the previous year.

Grain: Corn was 0.06 lower @ 7.38 with December futures @ 6.7725, 0.0775 lower. Wheat 0.06 higher @ 8.95 and the futures @ 8.5975, down 0.0975.

 

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