Weekly Market Summary... July 23, 2021

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

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For the week, slaughter cattle were mostly steady with feeder cattle and stocker calves steady to moderately higher. Live Cattle Futures and Feeder Cattle Futures both traded higher.  Boxed beef cutout values were slightly lower. Corn and wheat were both lower after sharp drops on Friday.
   

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: +1.38%

Change from 10 Days Ago: -0.59%

   

 60-Day Index Trendline

Change from 60 Days Ago: +1.53%​

Change from 60 Day High:   -1.65%​

 

Slaughter Cattle: In the South, cattle traded at 118.00 to mostly 120.00, steady with last week.  Northern dressed trade at 195.00 to 200.00, steady to 1.00 lower.  In the 3 front months, Live Cattle futures closed from 0.98 to 1.55 higher. USDA steer carcass weights were 8 lbs. heavier than last week at 892 lbs. and 4 lbs. lighter than a year ago. 

The July Cattle on Feed Report showed Cattle on Feed down 1% from last year’s back-log but above the 5-year average.

Feeder Cattle: National average price for feeder steers @ 151.67, 0.94 higher with trade 2.00 lower to 3.00 higher. In the 3 front months, Feeder Cattle futures closed from 4.02 to 4.45 higher.

Stocker Calves: National average price for stocker steers @ 170.76, 0.40 higher with trade 2.00 lower to 2.00 higher.

CME Feeder Cattle Index: 152.03, 0.64 higher than last Friday. 

Boxed Beef Cutouts: Choice cutout 1.31 lower at 266.63 and the Select cutout 1.85 lower at 249.94.  The Choice/Select spread at 16.15, 5.03 lower than last week.

Thursday’s Cold Storage Report showed June total beef stocks at the lowest level in nearly seven years when it was 380.9 million pounds in October 2014.

Cutter Cow Cutout: 1.66 lower at 230.78.

Slaughter Cows: Trade steady to 3.00 lower.

Total red meat production under Federal inspection for the week ending Saturday, July 24, 2021 was estimated at 1022 million lbs. according to the U.S. Department of Agriculture's Marketing Service. This was 0.9 percent higher than a week ago and 5.4 percent lower than a year ago.  Cumulative meat production for the year to date was 2.1 percent higher compared to the previous year.

Grain: For the week, Kansas City corn 0.19 lower @ 6.24 with September futures @ 5.4725, down 0.0875. Wheat 0.07 lower @ 6.21 and the futures @ 6.8400, down 0.0850.

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Weekly Market Summary Archive:

   

  2021...

     
07/09/21
06/11/21 
05/14/21
04/16/21
03/19/21
02/19/21
01/22/21
  
07/02/21
06/04/21
05/07/21
04/09/21
03/12/21
02/12/21
01/15/21
  
06/25/21
05/28/21
04/30/21
04/02/21
03/05/21
02/05/21
01/08/21
07/16/21
06/18/21
05/21/21
04/23/21
03/26/21
02/26/21
01/29/21
01/01/21

  

     

2020...

     
  
11/27/20
10/30/20
10/02/20
09/04/20
08/07/20
07/10/20
06/12/20
05/15/20
04/17/20
03/20/20
02/21/20
01/24/20
12/18/20
11/20/20
10/23/20
09/25/20
08/28/20
07/31/20
07/03/20
06/05/20
05/08/20
04/10/20
03/13/20
02/14/20
01/17/20
12/11/20
11/13/20
10/16/20
09/18/20
08/21/20
07/24/20
06/26/20
05/29/20
05/01/20
04/03/20
03/06/20
02/07/20
01/10/20
12/04/20
11/06/20
10/09/20
09/11/20
08/14/20
07/17/20
06/19/20
05/22/20
04/24/20
03/27/20
02/28/20
01/31/20
01/03/20

  

     

2019...

     
12/27/19
11/29/19
11/01/19
10/04/19
09/06/19
08/09/19
07/12/19
06/14/19
05/17/19
04/19/19
03/22/19
02/22/19
01/25/19
12/20/19
11/22/19
10/25/19
09/27/19
08/30/19
08/02/19
07/05/19
06/07/19
05/10/19
04/12/19
03/15/19
02/15/19
01/18/19
12/13/19
11/15/19
10/18/19
09/20/19
08/23/19
07/26/19
06/28/19
 05/31/19
05/03/19
04/05/19
03/08/19
02/08/19
01/11/19
12/06/19
11/08/19
10/11/19
09/13/19
08/16/19
07/19/19
06/21/19
05/24/19
04/26/19
03/29/19
03/01/19
02/01/19
01/04/19