USA: 1 week 2022 cattle market overview

Wholesale prices for block beef showed positive dynamics. The cost of Choice meat in the US market rose by $8.9 over the past week, the price of Select beef rose by $8.15. Choice/Select leverage increased to $10.72.

Live cattle futures on the Chicago Mercantile Exchange (CME) edged higher on Thursday, boosted by higher prices for cattle on the US Northern Plains, analysts said .

“We've been under some pressure lately, but the price of livestock in the cash markets was still between $138 and $140,” said Doug Houghton, technical analyst at Brock Capital Management. “This is slightly above the price level of the February contracts, so it supports the coming futures.”

February CME livestock futures rose 0.100 cents to 137.350 cents a pound after falling near the 100-day moving average earlier in the session, Reuters reported. March fattening futures on the CME rose 1.100 cents to 167.275 cents a pound.

Cattle slaughter figures have lagged for much of the week, with 113,000 head handled on Thursday, down 4,000 head from last week and 6,000 head less than the same week last year.

The November 2021 meat trade data (carcass weight) was released by the USDA Economic Research Service last Friday. Beef exports were reported to be 298 million pounds for the month, up 5.9% from last month and 8.1% from a year ago. November exports showed growth across most major destinations, including Japan (+12.4%), South Korea (+27.5%), Canada (+20.9%), Taiwan (+3.3%) and China (+ 110.7%.) Mexico showed a 36.7% decline in US beef imports compared to last year.  

U.S. beef imports were 297 million pounds in November 2021, up 27.5% from last year. Deliveries from Canada (+2.9%), New Zealand (+33.1%) and Mexico (+75.4%) increased.

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AVERAGE WEEKLY LIVESTOCK PRICE

 

Sale of livestock, heads

Average weight

average price

31.12.2021

01/07/2022

Growth per week,%

31.12.2021

01/07/2022

Growth,%

31.12.2021

01/07/2022

Growth,%

Bulls (live weight)

11 810

12 398

5.0%

1488

1484

-0.3%

135.6

139

2.2%

Heifers (live weight)

5 603

3 765

-32.8%

1 330

1 341

0.8%

135.5

138

2.2%

Bulls (slaughter. weight)

6 564

9 305

41.8%

974

967

-0.7%

217.3

220

1.2%

Heifers (slaughter weight)

1 188

3660

208.1%

858

856

-0.2%

217.0

220

1.4%

 

BEEF PRODUCTION

Slaughter volume

1 Week

52 weeks 2021

1 week 2021

Growth per week,%

Growth per year,%

Live weight

620000

537000

652 000

15.5%

-4.9%

slaughter weight

1394

1393

1401

0.07%

-0.5%

Beef production (million pounds)

841.0

840

844

0.1%

-0.4%

Beef production (thousand tons)

519.9

450.1

549.1

15.5%

-5.3%

 

CME, Livestock Futures

 

Week 52

Week 1

Growth per week,%

February

139.63

137.35

-1.6%

April

143.93

142.05

-1.3%

June

 

137.70

 

CME, Fattener Cattle Futures

January

163.45

162.10

-0.8%

March

163.75

167.28

2.2%

April

167.38

170.88

2.1%