Week ending Jan. 19, 2024

Things stayed a bit more neutral for the week of trade on fed cattle. Feeder cattle were higher as well as stocker cattle. Futures trended up as well. Dressed cattle were higher and corn was lower.

Fed cattle didn’t trade enough to make a huge difference. Cattle futures traded at $2.70 to $3.20 higher. The feeder cattle national average was $230.33 on steers, which was $2.53 higher. Stocker cattle traded at $3.16 higher at $285.19, still trading higher than a month ago by more than $13.

Choice cutout was $6.24 higher at $295.50. Select cutout traded $11.20 higher at $283.05. The spread for Choice/Select continued to narrow by $4.96 at $12.45. Cutter cows were $5.11 higher trading at $216.41. Total red meat production was 17.8 percent higher this week and 1.2 percent higher than a year ago. Total pounds for the week were estimated at 1,102.4 million.