Beef Brief-July 10, 2024

Posted July 9, 2024

Week ending July 5, 2024

Fed cattle in the south and the north remained steady with feeders and stockers lower. Live cattle and feeder futures did closer higher than last week with the Choice beef cutout higher as well. Corn remained lower.

Trade in both the southern and northern plains was steady at $190 and $198.50 for fed cattle. The feeder cattle average was $264.30, $0.50 lower with trade mostly $2 lower to $1 higher. Feeder cattle futures closed the week from $2.17 to $2.57 higher. The stocker cattle national average was $318.82—$1.52 lower with trade $3 lower to $2 higher.

The CME Feeder cattle index was $255.69, which was $2.91 lower than last Friday. The boxed beef cutout for Choice was $4.11 higher at $330.43 and the Select cutout was $0.56 higher at 305.06. This made the spread $21.82, which is $2.54 wider than last week. Cutter cows were lower by $3.12 with slaughter cow trade mostly $3 lower to $2.00 higher. Total red meat production was 15.7% lower from the previous week.