Weekly Market Overview for Week Ending 9/9/22

For the week, slaughter cattle were steady to 1.00 lower, feeder cattle slightly higher, and stocker calves slightly lower.  Live Cattle & Feeder Cattle Futures were higher while dressed beef cutouts traded lower and corn 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: +0.72%

Change from 10 Days Ago: +0.05%

   

 60-Day Index Trendline

Change from 60 Days Ago: +4.54%​

Change from 60 Day High:   -3.24%​

 

Slaughter Cattle: Trade in the South was steady at 141.00 with Northern dressed trade 2.00 lower at 226.00. In the 3 front months, Live Cattle futures closed from 0.98 to 1.12 higher. USDA’s most recent carcass weight data showed weights averaged 904 lbs., unchanged from last week and 3 lbs. heavier than last year.

Feeder Cattle: The national average price for feeder steers @ 182.55, 0.60 higher with trade 2.00 lower to 3.00 higher. In the 3 front months, Feeder Cattle futures closed from 0.87 lower to 0.72 higher.

Stocker Calves: The national average price for stocker steers @ 201.79, 0.44 lower with trade 3.00 lower to 2.00 higher.

CME Feeder Cattle Index: 181.24, 0.01 lower than last week.

Boxed Beef Cutouts: Choice cutout 2.16 lower at 257.26 and the Select cutout 3.85 lower at 234.73. The Choice/Select spread at 22.53, 1.69 higher. 

Cutter Cow Cutout: 2.38 lower at 210.37.

Slaughter Cows: Trade steady to 3.00 lower.

Total red meat production under Federal inspection for the week ending Saturday, September 10, 2022 was estimated at 967 million lbs. according to the USDA’s Agriculture's Marketing Service. This was 5.0 percent lower than a week ago and 1.2 percent higher 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 0.02 lower @ 7.44 with December futures @ 6.8500, 0.1925 higher. Wheat 0.54 higher @ 8.89 and the futures @ 8.6950, up 0.5850.

 

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