Beef Brief-Jan. 31, 2024

Posted January 31, 2024

Week ending Jan. 26, 2024

Fed cattle trade was up for the week of Jan. 22. Cash trade and live cattle future were all up $2 to $4.50 for the week. Cash trade in the South was up $2 at $175. Northern trade saw an increase of $3 at $176. Live cattle futures closed $4.08 to $4.33 higher across the front three months of trade.

Feeder and stocker cattle trade followed suit of the fed cattle trade. The national average price for feeder steers was $4.45 higher for the week, closing at $234.88. Trade varied $1 to $6 higher. The national average price for stocker steers closed $5.91 higher for the week at $291.10. Trade varied from $2 to $7 higher. Feeder cattle futures closed the week $7.75 to $8.87 higher across the front three months of trade.

Boxed beef cutouts closed the week higher. The Choice cutout was $5.03 higher at $300.53. The Select cutout saw an increase of $6.08, settling at $289.13. The Choice/Select spread narrowed $1.05, ending the week of trade at $11.40.

The cutter cow cutout closed $12.07 higher at $228.48. Slaughter cow trade varied from $2 lower to $4 higher.

Carcass weights for the week averaged 927 lb., 10 lb. lighter from the week prior. Total red meat production was estimated at 1,111.7 million lb., 1.8 percent higher than last week and 2.1 percent higher than one year ago. Cumulative meat production for year to date is 4.1 percent higher than last year at this time.