USA: Cattle market overview for the 3rd week of 2022

Wholesale prices for block beef showed positive dynamics, according to the USDA . The cost of Choice MEAT in the US market increased by $8.1 over the past week, the price of Select beef rose by $8.36. Choice/Select leverage dropped to $10.08.

February CME livestock futures traded flat on Friday but fell 0.225 cents by the end of the week. Contracts for fattening cattle are also getting cheaper.

Analysts had expected the USDA report to be released on Friday to show that fattening cattle numbers as of Jan. 1 were 99.8% of the total recorded a year earlier. Placements in December were projected at 102.6% of the total for December 2020, and marketing at 100.8%.

The slaughter of cattle reached 116,000 heads in a week, which was 2,000 units more than a week ago. Beef processors' margins rose to $456.90 per HEAD of cattle on Thursday from $426.20 on Wednesday, according to HedgersEdge.com.  

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WEEKLY CUT CHOICE COST

AVERAGE WEEKLY LIVESTOCK PRICE

Sale of livestock, heads

Average weight

average price

01/14/2022

01/21/2022

Growth per week,%

01/14/2022

01/21/2022

Growth,%

01/14/2022

01/21/2022

Growth,%

Bulls (live weight)

18 333

20 324

10.9%

1478

1486

0.5%

136.6

137

0.6%

Heifers (live weight)

7 308

7 961

8.9%

1 322

1 392

5.3%

136.5

137

0.5%

Bulls (slaughter. weight)

9 695

11 639

20.1%

969

976

0.7%

218.0

218

0.0%

Heifers (slaughter weight)

2402

5 722

138.2%

864

855

-1.0%

218.0

218

0.0%

WEEKLY WEIGHTED AVERAGE PRICE OF BULLS

BEEF PRODUCTION

Slaughter volume

3 week

2nd week 2022

3rd week 2021

Growth per week,%

Growth per year,%

Live weight

636 000

621 000

662 000

2.4%

-3.9%

slaughter weight

1399

1397

1405

0.1%

-0.4%

Beef production (million pounds)

844

843

848

0.1%

-0.5%

Beef production (thousand tons)

535.5

521.9

560.5

2.6%

-4.5%

CME, Livestock Futures

Week 2

Week 3

Growth per week,%

February

137.98

137.93

0.0%

April

142.13

142.10

0.0%

June

137.63

137.30

-0.2%

CME, Fattener Cattle Futures

January

162.70

160.28

-1.5%

March

166.38

163.30

-1.9%

April

170.35

168.13

-1.3%