Week ending July 19, 2024

Fed cattle trade was fairly steady during last week's trading period. Southern trade closed the week unchanged at $188. Northern trade closed $2 lower at $196. Live cattle futures closed the week from $0.80 to lower to $0.73 higher across the front three months of trade.

Stocker and feeder cattle trade was slightly lower for the week. The national average price for stocker steers closed $2.23 lower for the week at $317.51. Trade was variable from $5 lower to $2 higher. The national average price for feeder steers closed at $263.87, $1.25 lower for the week. Trade ranged from $4 lower to $2 higher. Feeder cattle futures closed down $1.90 to $3.05 across the front three months of trade.

Boxed beef cutouts followed the trend of stocker and feeder cattle. The Choice cutout ended the week $8.23 lower at $313.83. The Select cutout settled at $298.80 for the week, down $3.51. The Choice/Select spread narrowed by $4.72, settling at $15.03.

Slaughter cow trade was variable for the week. The cutter cow cutout closed $2.24 higher at $295.01. Slaughter cow trade varied from steady to $4 lower.

Hot carcass weights last week averaged 916 lb., compared to 911 lb. the week before, and 892 lb. last year. Total red meat production last week was estimated at 997.6 million lb. This is 1.5% lower than the week before, yet 0.1% higher than one year ago. Cumulative meat production compared to this time last year is estimated at 0.2% lower.