Weekly Market Summary... October 6, 2023

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

View Complete Summary • • Subscribe to receive via e-mail • • Archive

For the week, fed cattle trade in the South and North were both 1.00 lower. Feeder cattle and stocker calves were about 3.00 and 1.00 lower respectively. Live cattle futures and feeder cattle futures were lower again this week. The dressed beef cutouts were mixed with 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: +2.16%

Change from 10 Days Ago:  -12.85%

   

 60-Day Index Trendline

Change from 60 Days Ago: -2.49%​

Change from 60 Day High: -17.73%​

 

Fed Cattle: Trade in the South was 1.00 lower at 182.00 with Northern trade at 183.00, also 1.00 lower. In the 3 front months, Live Cattle futures closed the week from 1.13 to 1.73 lower. USDA’s carcass weight data showed weights averaged 918 lbs. this week, compared to 919 lbs. last week and 915 lbs. last year.
  • S: This Week: 182.00 / Month Ago: 180.00 / Year Ago: 144.00 / 5 Year Avg: 129.41
  • N: This Week: 183.00 / Month Ago: 182.00 / Year Ago: 147.00 / 5 Year Avg: 133.29
Feeder Cattle: The national average price for feeder steers was 250.40, 2.85 lower with trade mostly 1.00 to 4.00 lower. In the 3 front months, Feeder Cattle futures closed the week from 4.03 to 4.28 lower.
  • This Week: 250.40 / Month Ago: 250.90 / Year Ago: 176.22 / 5 Year Avg: 158.60
Stocker Calves: The national average price for stocker steers was 282.97, 1.23 lower with trade mostly in a range of 2.00 higher to 6.00 lower.
  • This Week: 282.97 / Month Ago: 281.40 / Year Ago: 192.77 / 5 Year Avg: 182.47
CME Feeder Cattle Index: 250.04, 2.07 lower than last Friday.
  • This Week: 250.04 / Month Ago: 249.21 / Year Ago: 174.92 / 5 Year Avg: 157.39
Boxed Beef Cutouts: Choice cutout 1.23 higher at 302.01 and the Select cutout 0.26 lower at 275.78. The Choice/Select spread at 26.23, 1.49 higher.
  • This Week: 302.01 / Month Ago: 312.90 / Year Ago: 246.07 / 5 Year Avg: 256.31
Cutter Cow Cutout: 1.30 lower at 237.81.
Slaughter Cows: Trade mostly 3.00 to 5.00 lower.
Total red meat production under Federal inspection for the week ending Saturday, October 07, 2023 was estimated at 1055.8 million lbs. according to the USDA’s Agricultures Marketing Service. This was 0.9 percent higher than a week ago and 4.6 percent lower than a year ago.  Cumulative meat production for the year to date was 2.6 percent lower compared to the previous year.
Corn: Omaha Corn was 0.06 higher at 4.78 with December futures at 4.9200, 0.1525 higher.

 

View Complete Summary... 

The summary contains 40+ pages of market data, charts, auction results, etc., with a convenient index at the top from which you can ‘click’ on content of interest and not have to scroll through all of the pages.