Weekly Market Summary... March 3, 2023

A look at the week’s prices, trends, and news for the cattle/beef complex.

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For the week, fed cattle in the South traded 1.00 higher with Northern trade 3.00 higher. Feeder cattle were nearly 4.00 higher with stocker calves nearly 5.00 higher. Live Cattle futures were mixed with Feeder Cattle futures higher. Dressed beef cutouts were mixed and grain closed 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: +1.99%

Change from 10 Days Ago: +5.37%

   

 60-Day Index Trendline

Change from 60 Days Ago: +9.50%​

Change from 60 Day High:    0.00%​

 

Slaughter Cattle: Trade in the South at 165.00 with Northern trade at 265.00 on a dressed basis. In the 3 front months, Live Cattle futures closed 0.40 lower to 0.13 higher. USDA’s most recent carcass weight data showed weights averaged 906 lbs., 4 lbs. heavier than last week and 15 lbs. lighter than last year.
  • This Week: 165.00 / Month Ago: 156.00 / Year Ago: 140.00 / 5 Year Avg: 122.27
Feeder Cattle: The national average price for feeder steers @ 188.10, 3.85 higher with trade mostly 1.00 to 6.00 higher. In the 3 front months, Feeder Cattle futures closed from 0.93 to 2.90 higher.
  • This Week: 188.10 / Month Ago: 179.76 / Year Ago: 158.75 / 5 Year Avg: 148.58
Stocker Calves: The national average price for stocker steers @ 229.15, 4.63 higher with trade mostly 2.00 to 8.00 higher.
  • This Week: 229.15 / Month Ago: 212.72 / Year Ago: 195.83 / 5 Year Avg: 170.82
CME Feeder Cattle Index: 185.43, 2.66 higher than last week.
  • This Week: 185.43 / Month Ago: 181.45 / Year Ago: 156.19 / 5 Year Avg: 148.15
Boxed Beef Cutouts: Choice cutout 2.04 higher at 289.32 and the Select cutout 0.22 lower at 276.86. The Choice/Select spread at 12.46, 2.26 higher.
  • This Week: 289.32 / Month Ago: 264.74 / Year Ago: 254.33 / 5 Year Avg: 245.20
Cutter Cow Cutout: 1.59 higher at 208.68
Slaughter Cows: Trade mostly steady to 5.00 higher.
Total red meat production under Federal inspection for the week ending Saturday, March 04, 2023 was estimated at 1066.7 million lbs. according to the USDA’s Agriculture's Marketing Service. This was 3.8 percent higher than a week ago and 1.5 percent lower than a year ago.  Cumulative meat production for the year to date was 1.8 percent lower compared to the previous year.
Grain: Corn was 0.10 lower @ 6.70 with March futures @ 6.4525, 0.0475 lower. Wheat 0.19 lower at 7.86 and the futures @ 6.9575, down 0.1250.