Week ending Sept. 13, 2024

Trade in the South remained steady, while Northern trade increased compared to the previous week. Feeder calves and stockers trended lower but live cattle and futures moved upward. Dressed beef prices declined, while corn prices increased.

Fed cattle trade in the Southern Plains held steady at $181, while Northern Plains trade rose by $2 to $182. Live cattle futures closed $2.48 to $4.20 higher. Carcass weights averaged 933 pounds, up two pounds from the previous week. The feeder steer average fell $1.92, closing at $245.11, with trade mostly ranging from $4 lower to $2 higher. Stocker steers dropped by $3.18, closing at $286.17, with trade ranging from $6 lower to $2 higher.

The CME feeder cattle index stood at $243.32, up $1.14 from last Friday. The Choice/Select spread narrowed by $2.55, settling at $10.74. Cutter cows dropped $0.81 to $290.86 and slaughter cows traded $5 lower to $1 higher on average. Total red meat production was estimated at 1.07 billion pounds, up 12.4% from the previous week.