Beef Brief-May 15, 2024

Posted May 14, 2024

Week ending May 10, 2024

The week’s fed cattle trade was steady in both the southern and northern plains. Feeder cattle and stockers traded lower with live cattle futures and feeder cattle futures lower. The dressed cutout values varied and corn was higher.

Fed cattle held steady across the nation at $184 to $187. Live cattle futures were down $0.45 to $0.63, and carcass weights averaged the same as the week before. The feeder cattle average for steers was $257.59, which was $2.04 lower. The stocker cattle average for steers was $318.64, $1.76 lower than the week before.

The CME feeder cattle index was $1.78 lower at $240.61. The Choice cutout was $0.37 higher at $294.57 and the Select cutout was $3.48 lower at $284.17.  This made the spread $10.44, $3.85 wider than the week before.