Week ending April 19, 2024

Fed cattle trade closed the week with values mostly steady to higher. Cash trade held mostly steady, with northern trade closing the week $1 lower at $183. Southern trade held steady at $182. Live cattle futures were up for the week, closing $2.50 to $4.80 higher across the front three months of trade.

Feeder and stocker cattle trade saw variable change through the week. The national average price for stocker steers closed the week at $314.87, which was $4.71 lower from the week before. Trade varied from $1 to $6 lower. The national average price for feeder steers ended at $254.34, which was only $0.09 higher from the week before. Trade varied from $2 lower to $2 higher.  Across the front three months of trade, futures closed $3.72 to $8 higher.

Boxed beef cutouts closed the week lower. The Choice cutout closed at $295.67, $4.90 lower than the week prior. The Select cutout was down $4.71, at $290.83. The Choice/Select spread narrowed by $0.19, closing at $4.84 for the week.

The cutter cow cutout closed up $0.15 at $269.72. Slaughter cow trade varied from $4 lower to $1 higher for the week.

Total red meat production for last week was estimated to be at 1,063.5 million lb. This is 1.5% higher than last week’s report and 1.8% higher than a year ago. Cumulative red meat production for the year to date is 1.3% lower than a year ago. Hot carcass weights for the last week averaged 919 lb., compared to 923 lb. the previous week and 892 lb. one year ago.