Week ending Sept. 20, 2024

Fed cattle saw increases in value during last week's trade. Northern and Southern trade both closed the week $2 higher at $183 and $184 respectively. Across the front three months of trade, live cattle futures rose $4.17 to $4.82 higher.

Trade values for stocker and feeder steers were uneven, but relatively steady for the week. The national average price for stocker steers was $284.28, which was $1.89 lower for the week. Trade varied from $4 lower to $2 higher. The national average price for feeder steers closed the week at $245.30, an increase of $0.19. Trade was variable from $2 lower to $3 higher. Feeder cattle futures closed the week from $2.12 to $6.57 higher across the front three months of trade.

Boxed beef cutouts were lower for the week. The Choice cutout closed at $300.19, decreasing by $4.72 lower for the week. The Select cutout was $5.58 lower at $288.59. The Choice/Select spread widened by $0.86, closing at $11.60.

The cutter cow cutout closed at $282.03, $8.83 lower for the week. Slaughter cow trade was lower by $3 to $5 for the week.

Total red meat production for last week was estimated at 1,051.9 million lb., which was 1.6% higher than one week ago and 0.1% lower than a year ago. Average hot carcass weights for last week were estimated at 941 lb., eight lb. heavier than last week and 24 lb. heavier than a year ago. Last week's average carcass weight was the heaviest for 2024 and the second highest in recorded history. Cumulative red meat production for the year to date is estimated to be 0.3% higher than last year at this time.