Beef Brief-March 13, 2024

Posted March 13, 2024

Week ending March 8, 2024
Fed cattle trade closed the week $2 higher for both northern and southern trade, closing at $185.50 and $185 respectively. Live cattle futures closed $1.12 to $1.25 lower for the week across the front three months of trade.
Both stocker and feeder cattle trade were moderately higher for the week. The national average price for stocker steers was up $4.54 for the week at $316.76, with trade steady to $9 higher. The national average price for feeder steers was at $254.03, up $2.68 for the week, with trade steady to $6 higher. Futures closed the week $1.70 to $2.20 lower.
Both Choice and Select cutouts closed the week seeing increases in value. The Choice cutout closed at $307.04, up $1.76 for the week. The Select cutout was $1.69 higher at $297.43. The spread widened by $0.07, closing at $9.61.
The cutter cow cutout was $9.16 higher, while slaughter cow trade was $2-$7 higher.
Total red meat production under federal inspection was estimated at 1,017.9 million lb. for the week.  This was 3.2% lower than the week prior and 4.7% lower than a year ago.  Cumulative meat production for the year to date is 1.8% lower than compared to last year.  Average carcass weights held steady for the week at 914 lb.