Beef Brief-Sept. 29, 2023

Posted October 4, 2023

Week ending Sept. 29, 2023

The recurring trend across all areas of cattle pricing was down from the closing of last week, except for fed cattle trade. Trade was steady in the South compared to last week, staying unchanged at $183. Fed cattle prices in the North closed down $1 from the week before, from $185 to $184.  Across all other markets, trade was down $2 to $5 from last week. However, feeder cattle futures saw a larger deficit, down $6.68 to $8.62 from the opening of trade last Monday.

Corn futures also saw a decline. Omaha corn was down $.10 from last week to $4.72.

Total receipts on feeder calves marketed was down to 286,400 this week, compared to 312,400 last week. The volume of fed cattle marketed increased over the last week from 60,438 to 69,756.

During September, value variations could be seen across the industry. Live cattle futures and fed cattle prices all saw positive changes, with values remaining steady to up $4. National averages for stocker and feeder calves followed this trend, with values up $4. Feeder futures were slightly down to steady, with October and November futures down $1.50 to $2 in September. January saw an increase of $1 over the month.

The biggest loss was seen in box beef cut out. Choice and Select cut outs were down nearly $14 from the start of September, to $300 and $276, respectively. The Choice-Select spread remains relatively unchanged, with trade closing at $24.74 last week.