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Beef Brief-June 5, 2024

Posted June 4, 2024

Week ending May 31, 2024

Fed cattle trade saw values decrease slightly during last week's trading period. Northern trade closed $2 lower for the week at $190. Southern trade only dipped by $1, closing at $186 for the week. Live cattle futures closed the week at $2.15 to $3.15 across the front three months of trade.

Stocker and feeder calf prices were variable for the week. The national average price for stocker steers closed $0.63 lower for the week, with trade $1 lower to $3 higher. The national average price for feeder steers was $2.46 higher with trade varying from $1 lower to $4 higher. Feeder cattle futures closed the week from $3.58 to $3.82 lower across the front three months of trade.

Boxed beef cutouts were also variable in changes for the week. The Choice cutout closed at $313.20, up $2.75 for the week. The Select cutout closed down $0.01 at $301.71. The Choice/Select spread closed $2.76 wider at $11.49.

Slaughter cow trade saw the biggest improvements for the week. The Cutter cow cutout closed at $276.84, up $2.06 for the week. Slaughter cow trade varied from $2 lower to $4 higher.

Carcass weights from last week were reported at 921 lb., compared to 923 lb. week prior, and 885 lb. last year. Total red meat production for the week was estimated at 926 million lb. This was 9.8% lower than last week and 3% higher than a year ago. Cumulative meat production for year to date is 0.8% lower compared to last year.