TCR's Weekly Market Summary...
An in depth look at the week’s prices, trends, and news for the cattle/beef complex.
For the week ending July 19th:
TCR's Cattle/Beef 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 12 market factors compared to the previous trading day.
10-Day Index: +1.25% compared to +2.76% last Friday.
60 Day Index: -3.14% compared to -2.90% last Friday.
10-Day Index & Trendline
60-Day Index & Trendline
Slaughter Cattle: In the South, cattle traded at mostly 111.00, 2.00 lower than last week. In the North, cattle averaged 183.00 on a dressed basis, steady with last week. In the 3 front months, Live Cattle futures closed from 0.87 to 1.47 lower for the week.
Feeder & Stocker Cattle: On a national basis, feeder cattle & stocker calves were steady to slightly lower with regional instances of 3.00 higher to 3.00 lower. The 3 front months of Feeder Cattle futures closed from 2.18 to 2.83 lower.
CME Feeder Cattle Index: Closed at 138.67, 2.39 lower for the week.
Boxed Beef Cutouts: Choice cutout 0.62 higher at 213.42 and the Select cutout 0.09 lower at 189.51.
Cutter Cow Cutout: 0.83 higher at 174.81.
Slaughter Cows: Market cows traded $2.00 to $3.00 lower.
Grain: Kansas City corn closed 0.18 lower with the futures 0.24 lower for the week. Cash wheat was 0.20 lower and the futures closed 0.21 lower.
Point to Ponder…
The growing cattle supply and uncertainty in the corn market will likely result in stocker calf and feeder cattle markets continuing to feel pressure. According to CattleFax data, in eight out of the last ten years, calves forward sold on video sales for fall delivery received a higher price versus calves sold in the spot market. The average premium was nine percent. This implies that five-weight steer calves in the Central Plains have risk back near $150 later this year, given a mid-$160’s average for commodity calves recently sold on video.
Weekly Market Summary Archive: