Beef Brief-June 26, 2024

Posted June 25, 2024

Week ending June 21, 2024

Fed cattle trade in the southern and northern plains was higher. Feeder cattle trended up while stockers remained steady. Live cattle futures and feeder cattle futures remained to be mostly lower as well. Choice dressed beef was up while corn was down.

Fed cattle in the south were $3 higher at $190 with prices in the north $2.50 higher at $198.50. Live cattle futures closed $1.23 lower to $0.78 higher. Carcass weights showed a slight decrease at 918 lb. compared to 924 lb. last week. The feeder cattle average was $1.58 higher at $262.97, with trade mostly steady to $4 higher. The stocker cattle average was $321.26 which was $0.01 higher.

The CME Feeder Cattle Index hit another all-time high at $257.47, $1.34 higher than last week. The Choice cutout was $2.50 higher at $322.39 and the Select cutout was $0.70 lower at $303.11. This made the Choice/Select spread $16.08. Cutter cows were up $2.61 at $285.77 while slaughter cows traded $2 lower to $5 higher.