Beef Brief-Feb. 7, 2024

Posted February 6, 2024

Week ending Feb. 2, 2024

For this week, cattle trade in the Northern and Southern Plains was higher. Feeder cattle and stockers trended upward as well, while live cattle futures were mixed, and feeder cattle futures were higher.

Fed cattle were $3 higher in the South — coming in at $178 while northern trade was $1 higher at $177. Carcass weights averaged 918 lb. compared to 927 lb. last week and 915 lb. a year ago. Feeder cattle were $6.40 higher at $241.28. This is still trending higher from a month ago and definitely higher than a year ago. National stocker steer average was $298.29, which was $7.19 higher with most trade $3 to $9 higher.

The Choice cutout was $7.45 lower at $293.29 and the Select cutout was $5.66 lower at $283.47. The Choice/Select spread was $1.79 narrower at $9.61. The cutter cow market was $1.28 higher at $229.76, and slaughter cows were trading mostly $2 lower to $5 higher. The USDA estimated 1126.5 million lb. of beef harvested, which was 1.4% higher from last week.