Week ending Aug. 23, 2024

Markets declined across all sectors in last week's trade, with the steepest drops observed in stocker and feeder cattle. In the fed cattle market, northern trade ended the week down $5 at $185, while southern trade closed the week at $2 lower at $183. Live cattle futures for the front three months of trade varied from $0.23 to $2.92.

The national average for stocker steers dropped $7.40 lower at $297.13, with trade down $3 to $7. Feeder steers averaged $251.22, down $5.33, with trade $2 to $7 lower. Feeder cattle futures closed the week more modestly, ranging from $0.20 to $1.58 lower across the front three months.

The Choice cutout dipped $0.11 to $317.34, while the Select cutout fell $2.13 to $300.46. The Choice/Select spread widened by $2.02 to $16.88.

The cutter cow cutout gained $0.50 last week, closing at $294.84. Slaughter cow trade declined more moderately, ending $1 to $4 lower.

Last week, red meat production under federal inspection was estimated at 1,043.2 million lb., up 0.4% from the previous week and 1.3% higher from a year ago. Steer hot carcass weights averaged 925 lb., compared to 923 lb. the week before and 901 lb. last year. Year-to-date red meat production is up 0.1% from last year.