Beef Brief-April 10, 2024

Posted April 10, 2024

Week ending April 5, 2024

Prices across all facets of cattle and beef trade trended lower for last week, with the exception of slaughter cow trade. In fed cattle trade, northern and southern trade values were down $2 for the week, closing at $87 and $184 respectively. Across the front three months of futures trade, live cattle closed the week $6.75 to $8.23 lower.

The national average price for feeder steer steers settled at $257.69 for the week, $1.89 lower from the previous week. Trade varied from $5 lower to $1 higher. In futures trade, values were $9.42 to $10.53 lower across the front three months of trade. The national average price for stocker steers was $2.20 lower from the week prior, at $322.16. Trade was $7 lower to $2 higher.

Boxed beef cutouts were also lower for the week. The Choice cutout closed at $297.17, down $9.55 from last week. The Select cutout settled $8.73 lower at $294.70. The Choice/Select spread narrowed by $.82, closing at $2.47.

The cutter cow cutout was higher for the week, up $3.99, closing at $267.39. Slaughter cow trade was mostly steady to $4 higher for the week.

Total red meat production for last week was estimated at 1,038 million pounds. This was 2.4% higher than last week and 2.5% higher than a year ago. Cumulative meat production for year to date is 1.7% lower compared to this time in 2023. USDA carcass weight reports showed weights at 924 lb. for last week's trade, compared to 922 lb. from the week prior and 895 lb. from last year