The cattle and beef markets are reflecting mixed signals across various metrics:
- Market-Strength Indexes:
- The 10-Day Index has shown a slight decline over the past 10 days (-0.66%), despite a daily uptick (+1.39%).
- The 60-Day Index demonstrates strong growth (+9.43%), though it’s slightly below its recent high (-2.68%).
- Auction and Sales Data:
- Texas and Kansas reported steady live FOB prices at $185.00. Nebraska and the Western Cornbelt saw limited trades, with no trend due to insufficient purchases.
- Negotiated sales are notably lower compared to last week and last year, indicating softer market activity.
- Cattle Slaughter:
- Week-to-date slaughter is slightly below last week’s pace, aligning with year-ago levels.
- Boxed Beef and Cutout Values:
- Choice and Select cutout values have dipped marginally, with the Choice/Select spread at $27.20.
- Futures Settlements:
- Live and feeder cattle futures show moderate gains, reflecting market optimism for upcoming months.
- Grain and Financial Markets:
- Corn and wheat prices are slightly up, while financial markets experienced notable declines, potentially impacting overall market sentiment.
