Week ending May 24, 2024

Fed cattle trade in the north and south were higher this week. Feeder cattle and stockers followed suit along with live cattle futures, feeder cattle futures, boxed beef and corn.

Fed cattle in the southern plains were $1 higher at $187 with northern plains cattle trading $2.00 higher at $192. Live cattle futures closed the week at $2.07 to $2.65 higher and carcass data showed weights at 923 lb. compared to 891 lb. the week before. The national feeder cattle average for steers was $261.18, which was almost $2 higher and futures closed at $0.37 to $1.20 higher. Stocker cattle were also up by $1.69, closing the week at $322.64.

The Choice cutout was $3 lower at $310.45 and the Select cutout was $4.32 higher at $301.72.  This made the spread lower to $8.73, which was $7.32 narrower than last week.