Beef Brief-Dec. 20, 2023

Posted December 19, 2023

Week ending Dec. 15, 2023 

Cash trade in the fed cattle sector closed the week down from the week prior. Northern trade was $3 lower at at $168, while southern trade was only $1 lower at $170. Futures trade for the week fortunately closed higher. Across the front three months, trade was up $2.77 to $3.63. Carcass weights from last week set another record at 940 lb., holding steady from last week and up 15 lb. from this week in 2022.
The national average price for feeder calves was $0.64 from the week prior, settling at $224.03. Trade varied, with prices ranging from $5 lower to $4 higher.  Feeder cattle futures closed the week up. The front three months of trade closed the week up $5.60 to $7.37 from week opening.
The national average price for stocker steers was up $0.79, settling at $269.91. Trade varied from $3 lower to $4 higher.
The Choice cutout closed at $291.64, up $3.63 from previous week. The Select cutout settled $2.92 higher at $260.82. The Choice/Select spread widened by $0.71, closing at $30.82.
The cutter cow cutout was down $6.95 at $209.07. Slaughter cow trade varied from $2 lower to $3 higher.
Total red meat production for the week was estimated at 1129.1 million pounds for the week. This was up 1.8 percent from last week and up 4.6 percent from a year ago. Total meat production year to date is up 2.2 percent compared to 2022.