USA: Cattle market overview for the 15th week of 2022

Cattle futures are down. Livestock contracts on the Chicago Mercantile Exchange (CME) fell on Thursday as traders took profits after a three-day gain and ahead of a long holiday weekend. US markets , including CME, were closed on Good Friday.

But cattle futures broke away from their session lows and hog futures closed mostly higher, with both markets finding support as brokers anticipated a seasonal increase in consumer demand for expensive cuts of MEAT, REUTERS reported.

“Typically, demand for red meat picks up after Easter due to warmer weather and holidays. People are looking forward to the start of the grilling season and the increase in domestic demand for red meat,” said Dan Norcini, independent livestock trader.

He noted that the Mother and Remembrance Day holidays in May typically kick off the grilling season in the US.

June CME livestock futures edged down 0.450 cents to 136.425 cents a pound, cutting losses after falling to 135.900 cents. May fattening futures fell 0.175 cents to 161.775 cents a pound.

Cash markets were calm on Thursday after ready-to-sell cattle traded on the southern plains earlier in the week at $139 a hundredweight, up $1 from most of last week's trading.

Wholesale beef prices are down for a second day after rising for most of the past five weeks, the USDA said.  

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WEEKLY CUT CHOICE CAT.CHOICE CATTLE SALE

Sale of livestock, heads

Average weight

04/08/2022

04/15/2022

Growth per week,%

04/08/2022

04/15/2022

Growth,%

Bulls (live weight)

35 123

34 357

-2.2%

1481

1474

-0.5%

Heifers (live weight)

17 247

18 591

7.8%

1 326

1 334

0.6%

Bulls (slaughter. weight)

11 935

14 377

20.5%

958

962

0.4%

Heifers (slaughter weight)

3 274

3 169

-3.2%

878

856

-2.5%

WEEKLY WEIGHTED AVERAGE PRICE OF BULLS

BEEF PRODUCTION

Slaughter volume

15 week

15 week 2021

Growth per year,%

Live weight

634 000

641 000

-1.1%

slaughter weight

1384

1373

0.8%

Beef production (million pounds)

834

830

0.5%

Beef production (thousand tons)

527.7

530.5

-0.5%