Weekly Market Overview for Week Ending 9/30/22

For the week, slaughter cattle were 1.00 lower in the South and steady in the North. Feeder cattle and stocker calves were 3.50 and 2.50 lower, respectively. Both Live Cattle & Feeder Cattle Futures were lower. Dressed beef cutouts were mixed with the choice cutout 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: -1.57%

Change from 10 Days Ago: -5.63%

   

 60-Day Index Trendline

Change from 60 Days Ago: -7.09%​

Change from 60 Day High: -10.50%​

 

Slaughter Cattle: Trade in the South was 1.00 lower at 143.00 with Northern dressed trade steady at 230.00. In the 3 front months, Live Cattle futures closed from 0.98 to 2.05 lower. USDA’s most recent carcass weight data showed weights averaged 918 lbs., 4 lbs. heavier than last week and 6 lbs. heavier than last year.

Feeder Cattle: The national average price for feeder steers @ 176.34, 3.44 lower with trade mostly 1.00 to 4.00 lower. In the 3 front months, Feeder Cattle futures closed from 3.63 to 4.18 lower.

Stocker Calves: The national average price for stocker steers @ 195.68, 2.49 lower with trade mostly 1.00 to 6.00 lower.

CME Feeder Cattle Index: 175.46, 2.66 lower than last week.

Boxed Beef Cutouts: Choice cutout 4.88 lower at 243.75 and the Select cutout 0.82 higher at 220.13. The Choice/Select spread at 23.62, 5.70 lower. 

Cutter Cow Cutout: 0.06 lower at 210.00.

Slaughter Cows: Trade mostly 1.00 to 3.00 lower.

Total red meat production under Federal inspection for the week ending Saturday, October 01, 2022 was estimated at 1086.1 million lbs. according to the USDA’s Agriculture's Marketing Service. This was 0.0 percent lower than a week ago and 1.7 percent higher than a year ago.  Cumulative meat production for the year to date was 0.6 percent lower compared to the previous year.

Grain: Corn was 0.28 lower @ 7.10 with December futures @ 6.7750, 0.0075 higher. Wheat 0.57 higher at 9.52 and the futures @ 9.2150, up 0.4100.

 

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