Beef Brief-May 1, 2024

Posted May 1, 2024

Week ending April 26, 2024

Fed cattle in the Southern Plains remained steady while northern trade was $2 higher. Feeder cattle as well as stocker cattle trended upward along with live cattle and feeder futures.

Fed cattle trade in the South was at $182 and northern trade at $185. Live cattle futures closed from $2.90 to $3.22 higher and carcass weights took an increase as well at 922 lb. compared to 919 lb. the week before. The feeder cattle average was $256.67 at $2.32 higher, with live cattle futures trading at $6.70 to $7.15 higher. The stocker cattle average was $2.06 higher at $316.73.

The Choice cutout was $1.47 higher at $297.14, while the Select cutout was $2.11 lower at $288.72. This made the Choice/Select spread $3.58 wider than the week before — coming in at $8.42. Total meat production was 2.7% lower compared to last week at 1,035 million lb. Corn was $0.21 higher at $4.67.