Livestock Roundup 10/17/22

Posted: Oct. 17, 2022, 9:04 a.m.

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Cattle Summary

Daily Cutout Values

Choice: 246.98, Up .45 from the previous day.

Select: 216.94, Up 1.08 from the previous day.

Choice/Select Spread: 30.04

5 Area Average Cattle Price

Live Steer: 146.77

Live Heifer: 146.78

Dressed Steer: 231.61

Dressed Heifer: 231.65

Daily Slaughter

Estimated at 112,000. 5,000 less than last week, but 5,000 more than the same week last year.

Feeder Cattle Index

10/06/2022: 174.11

10/05/2022: 174.03


Live Cattle

December live cattle futures continue to linger along the 100 and 200 day moving average, for about three consecutive weeks now.  We've been looking for the market to retrace some of the breakdown points from the end of September, but it has been reluctant to do so, part of it may be due to the uncertainty in the outside markets.  We remain optimistic that futures can get back to 149.575-150.00, but patience is waning.  

Seasonal Trend in Play:  April live cattle have been higher from October 5th-November 11th for 13 of the last 15 years.


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Hogs Summary

Daily Direct Hogs Plant Delivered (as of 1:30 PM CT)

Carcass Base Price

Range: 80.00-96.00

Weighted Average: 92.47

Change from Prior Day: -1.46

Head Count: 5,244

Daily Hog Slaughter

473,000. 7,000 less than last week but 2,000 more than last year.

Lean Hogs

December lean hogs were able to chew through resistance on Friday, which opens the door for a further relief rally.  If the Bulls can defend Friday's strength, we could see the market attempt to close the small gap left from September 23rd, 85.25-85.375.

Upcoming Seasonal Trend: December lean hogs have been lower from October 15th-November 6th for 12 of the last 15 years.



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Hogs Summary

Export Sales

Pork:  Net sales of 29,900 MT for 2022 

Daily Direct Hogs Plant Delivered (as of 1:30 PM CT)

Carcass Base Price

Range: 81.00-95.00

Weighted Average: 89.26

Change from Prior Day: -1.03

Head Count: 8,887

Daily Hog Slaughter

491,000. Up 2,000 from last week and 17,000 from last year.

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Livestock Feeder Cattle Lean Hogs Live Cattle

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