Week ending Dec. 1, 2023
All facets of fed cattle trade saw a decline in last week's trade. Trade was light in the South compared to steady trade in the North. Both markets closed $2 lower at $175. In the front three months of trade, live cattle futures closed $0.98 to $1.85 lower from the previous week. Carcass weights saw increase to 936 lb., up five pounds from the week prior.
Stocker and feeder cattle trade followed a similar suit to fed cattle. The national average price for stocker calves closed at $270.19, down $3.51 from two weeks ago. Trade ranged from $5 lower to $3 higher. The national average price for feeder calves was down $3.34 from two weeks ago, closing at $228.69. In the front three months of trade for feeder cattle futures, markets closed $4.90 to $5.50 lower.
Boxed beef cutouts also joined the trend for the week. The Choice cutout concluded the week at $297.46, down $.57 from week opening. The Select cutout closed at $3.27 lower at a value of $265.49. The Choice/Select spread widened by $2.70, settling at $31.97 for the week.
The cutter cow cutout closed down $5.64 at $214.92. Slaughter cow trade varied, ranging from $2 higher to $3 lower.
Total red production for last week was estimated at 110.8 million pounds. This is 0.4 percent lower than a year ago. Total meat production for year to date is 2.5 percent lower compared to this time last year.
