Week ending Aug. 9, 2024

Cattle trade was lower last week across all classes of trade, though markets did close strong on Friday. Beef cutouts were more mixed in the week, seeing modest changes.

Northern fed cattle trade closed the week at $3 lower at $193, while southern trade was only down $2 for the week, closing at $186. Live cattle futures closed the week $2.60 lower to $0.15 higher across the front three months of trade.

The national average price for feeder steers closed the week $6.55 lower at $258.21. Trade was $3 to $12 lower. Feeder cattle futures closed the week $3.15 to $6.80 lower across the front three months of trade. The national average price for stocker steers was $8.06 lower, closing at $307.64. Trade varied from $3 to $14 lower.

Boxed beef cutouts were variable in their changes for the week. The Choice cutout closed at $312.71, $1.06 lower for the week. The Select cutout closed at $298.59 for the week, $1.42 higher. The spread narrowed by $2.48, closing at $14.12.

The cutter cow cutout closed at $293.13, $0.89 higher. Trade on slaughter cows varied from $1 lower to $3 higher.

Total red meat production for last week was estimated at 1,001.1 million lb. This was 2% lower than one week ago, yet 1.5% higher than a year ago. Hot carcass weights last week averaged 921 lb., compared to 915 lb. last week and 895 lb. last year. Cumulative red meat production is nearly even compared to a year ago.