US: Cattle Market Review Week 28, July 15, 2024
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However, beef sales fell as government data showed on Thursday that weekly exports were down 11% from the previous week.
Live cattle ended Friday's session up 12 cents at $1.15. Cattle in the cash markets last week were trading around $188 in the South and $198 in the North, both more stable than last week. The CME Cattle Index fell 49 cents on July 11 to $261.04.
The U.S. wholesale beef market is weakening, with wholesale beef prices falling for a second straight day Thursday, a possible sign that the unseasonal price boom may be slowing, market analysts say. Block beef tenderloin prices were down $2.40 to $321.65 a hundredweight Thursday afternoon, while select beef was down 56 cents to $303.38 a hundredweight. The market continues to see strong demand from retailers. Beef prices tend to decline seasonally during the summer, although there are signs that retailers plan to continue to offer beef aggressively.
WEEKLY COST OF CUT OUT CAT.CHOICE
CATTLE SALES
Sale of cattle, heads
Average weight
Week 27
Week 28
Growth per week,%
Week 27
Week 28
Growth per week,%
Bulls (live weight)
2 302
28 265
1127.8%
1,477
1,445
-2.2%
Heifers (live weight)
1 522
11 836
677.7%
1 356
1 317
-2.9%
Bulls (slaughter weight)
834
4 968
495.7%
938
939
0.1%
Heifers (slaughter weight)
113
1 945
1621.2%
803
849
5.7%
WEEKLY WEIGHTED AVERAGE BULL PRICE
BEEF PRODUCTION
Indicator
Week 28
Previous week
A year ago
Growth per week,%
Growth per year, %
Volume of cattle slaughter
601,000
522,000
633,000
15.1%
-5.1%
Live weight
1 383
1 387
1 344
-0.3%
2.9%
Slaughter weight
844
846
814
-0.2%
3.7%
Beef Production (million pounds)
506.0
440.6
514.6
14.8%
-1.7%
CME: Live Cattle Futures
Week 27
Week 28
Growth per week,%
August
186.43
182.38
-2.2%
October
187.18
184.08
-1.7%
December
188.78
185.48
-1.7%
CME: Feeder Cattle Futures
August
261.48
258.60
-1.1%
September
262.23
258.10
-1.6%
October
262.23
257.55
-1.8%
You can learn more about the state of the cattle market in the usa (cattle prices, cost of beef by category, production dynamics) in the weekly reviews of the MEAT market in RUSSIA and in the world from Meatinfo.ru. Weekly reviews are available as part of a subscription.
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