USA: Cattle market overview for the 31st week of 2021

The cost of Choice MEAT in the US market rose by $3.68 in a week, the price of Select beef added $3.32. Choice/Select price leverage dropped to $19.17.

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On the Chicago Mercantile Exchange (CME), live cattle futures strengthened on Wednesday, traders said, as cash trading volume rose and wholesale beef prices rose.

“Currently we have some limitation in the supply of cattle ready to be released to the market. Shipments are forecast to drop further this year and next year,” said Doug Houghton, technical analyst at Brock Capital Management.

According to the United States Department of Agriculture , in Nebraska, commercial cattle sold for between $124 and $125 per centner, while on the southern plains of the United States it still traded for $120.

Benchmark CME livestock futures for October added 0.825 cents to 128.975 cents a pound, according to a REUTERS report. September feedstock futures on the CME added 0.350 cents to 162.875 cents a pound.

Daily cattle slaughter fell to 122,000 heads, up from a week earlier and the same time last year, according to the USDA.

  WEEKLY CUT CHOICE COST

AVERAGE WEEKLY LIVESTOCK PRICE

Sale of livestock, heads

Average weight

average price

07/30/2021

08/06/2021

Growth,%

07/30/2021

08/06/2021

Growth,%

07/30/2021

08/06/2021

Growth,%

Bulls (live weight)

16 383

30 103

83.7%

1426

1453

1.9%

121

124

2.2%

Heifers (live weight)

7781

9859

26.7%

1304

1285

-1.5%

120.75

122.96

1.8%

Bulls (slaughter. weight)

14047

15698

11.8%

933

939

0.6%

197.49

198.18

0.3%

Heifers (slaughter weight)

2652

2619

-1.2%

818

831

1.6%

196.92

198.07

0.6%

WEEKLY WEIGHTED AVERAGE PRICE OF BULLS

BEEF PRODUCTION

07/31/2021

A week earlier

A year ago

Growth per week,%

Growth per year,%

(approximately)

(approximately)

(actually)

Slaughter volume

649 000

652 000

636 000

-0.5%

2.0%

Live weight

1348

1 348

1 365

0.0%

-1.2%

slaughter weight

816

815

835

0.1%

-2.3%

Beef production (million pounds)

528.3

530.4

530

-0.4%

-0.3%

CME, livestock futures

Week 30

Week 30

Growth per week,%

August

122.08

123.00

0.8%

October

127.20

127.88

0.5%

December

132.65

133.33

0.5%

CME, fattening cattle futures

August

158.18

159.85

1.1%

September

161.80

163.33

0.9%

October

164.05

165.78

1.1%