Week ending July 12, 2024

Fed cattle trade for last week was lower to steady in values. Southern trade closed $2 lower at $188. Northern trade held steady at $198. Live cattle futures closed the week $3.10 to $4.05 lower across the front three months of trade.

Stocker and feeder cattle cash trade saw slight increases in value last week. The national average price for stocker steers closed the week at $319.74, $0.92 higher for the week. Trade varied from $3 lower to $4 higher. The national average price for feeder steers was $265.13, also $0.92 higher from the week before. Trade varied from $2 lower to $3 higher. Feeder cattle futures closed the week down $2.82 to $4.67 across the front three months of trade.

Boxed beef cutouts closed the week lower. The Choice cutout was $8.37 lower at $322.06, while the Select cutout was $2.75 lower at $302.31. The Choice/Select spread narrowed by $5.62 to close at $19.75.

Slaughter cow trade saw trade vary from $1 lower to $2 higher, while the cutter cutout was $1.03 higher, settling at $292.77.

Total red meat production for the week was estimated at 1,017.2 million lb. This was 15.7% higher than one week ago and 1% higher than one year ago. Cumulative red meat production for the year to date is setting at 0.2% lower compared to last year. Hot carcass weights last week averaged 911 lb., compared to 913 lb. from the week before. Last year at this time saw hot carcass weights at 884 lb.