USA: Cattle market overview for the 12th week of 2021
Cattle prices rose, which was reflected in the cost of Choice MEAT, which rose $1.21 in a week, as well as the cost of Select beef, which increased in price by $1.52. Choice/Select leverage settled at $9.89. Slaughter of livestock, like beef production, increased during the week, but declined over the year.
Cattle futures are rising in price.
The USDA said this week that frozen beef stocks fell 8.46 million pounds in February, well short of the 27.2 million pounds expected for the period. Inventories are estimated at 510.90 million pounds, which is a new record at the end of February.
The disappointing numbers could lead to some additional profit taking in the livestock complex, which stabilized on Monday after last week's late sell-off. The average bull price last week was $114.23, marginally higher than the week before and roughly in line with seven consecutive weeks of trading.
WEEKLY CUT CHOICE COST
AVERAGE WEEKLY LIVESTOCK PRICE
Sale of livestock, heads
Average weight
average price
as of 19.03.2021
as of 26.03.2021
Growth,%
as of 19.03.2021
as of 26.03.2021
Growth,%
as of 19.03.2021
as of 26.03.2021
Growth,%
Bulls (live weight)
28 010
34 101
21.7%
1504
1489
-1.0%
114
116
1.1%
Heifers (live weight)
10555
15720
48.9%
1332
1324
-0.6%
114.25
115.33
0.9%
Bulls (slaughter. weight)
8383
13539
61.5%
952
961
0.9%
181.28
184.87
2.0%
Heifers (slaughter weight)
1846
3491
89.1%
860
876
1.9%
181.66
184.66
1.7%
WEEKLY WEIGHTED AVERAGE PRICE OF BULLS
BEEF PRODUCTION
as of 03/27/2021
A week earlier
A year ago
Growth per week,%
Growth per year,%
(approximately)
(approximately)
(actually)
Slaughter volume
646 000
624 000
685 000
3.5%
-5.7%
Live weight
1378
1384
1 367
-0.4%
0.8%
slaughter weight
830
834
827
-0.5%
0.4%
Beef production (million pounds)
534.6
519
565.1
3.0%
-5.4%
CME, livestock futures
Week 11
Week 12
Growth per week,%
April
118.40
120.10
1.4%
June
118.68
121.78
2.6%
August
117.78
120.88
2.6%
CME, fattening cattle futures
March
134.68
145.13
7.8%
April
139.43
149.88
7.5%
May
144.68
158.45
9.5%
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