Week ending June 7, 2024

Values in all classes of cattle trade were relatively lower for the week. Trade of fed cattle was limited in last week's market. Trade values in the north and south were down $1 for the week—northern trade closed at $189 and southern trade was at $185. Live cattle futures closed from $1.28 lower to $0.62 higher across the front three months of trade.

The national average price for feeder steers closed the week at $262.01, which was $1.62 lower from the week prior. Trade varied from $3 lower to $1 higher. Feeder cattle futures closed the week from $1.48 to $2.52 lower across the front three months of trade. The national average price for stocker steers closed the week at $321.51. This value was $0.86 lower from the week before, with trade varying from $4 lower to $3 higher.

The cutout trade was slightly variable for the week. The Choice cutout closed at $316.55, $3.55 higher for the week. Meanwhile, the Select cutout was $.57 lower for the week, closing at $301.14. The Choice/Select spread widened by $4.12, closing at $15.61.

The cutter cow cutout closed at $279.12, which was $2.28 higher for the week. Slaughter cow trade was $1 lower to $4 higher.

Carcass weight data from last week's slaughter estimated carcass weights to average 920 lb., compared to 921 lb. week prior and 883 lb. last year. Total red meat production for last week was estimated at 1,046.4 million lb. This was 13% higher than the week before and 4.4% higher than a year ago. Cumulative red meat production for the year to date is estimated to be 0.6% lower than last year at this time.