USA: Cattle market review for week 32 of 2023

Traders said tight supply supported cattle futures prices despite demand concerns.

CME August live cattle futures rose 0.525 cent to 181.1 cents a pound, closing below the session's peak after hitting resistance at the top of its 20-day Bollinger Band.

October's most active live cattle rose 0.800 cent to 181.700 cents a pound, finding support from early weakness in its 20-day moving average.

September feeder cattle futures rose 0.95 cent to 251.575 cents a pound, rising above their five-day and 10-day moving averages for the session.

WEEKLY COST OF CUTTINGS CAT.CHOICE

CATTLE SALES

Sale of livestock, heads

Average weight

Week 31

Week 32

Weekly growth,%

Week 31

Week 32

Weekly growth,%

Bulls (live weight)

3 354

7 807

132.8%

1 501

1 489

-0.8%

Heifers (live weight)

989

2,809

184.0%

1 356

1 284

-5.3%

Steers (slaughter weight)

366

963

163.1%

916

929

1.4%

Heifers (slaughter weight)

91

630

592.3%

821

808

-1.6%

WEEKLY WEIGHTED AVERAGE PRICE OF CARL BEEF PRODUCTION

Index

Week 32

Week 31

Week 32 2022

Weekly growth,%

Growth over the year, %

Slaughter volume

603,000

613,000

645,000

-1.6%

-6.5%

Live weight

1 345

1 345

1 350

0.0%

-0.4%

Slaughter weight

814

815

819

-0.1%

-0.6%

Beef production (million pounds)

490.1

498.5

527.3

-1.7%

-7.1%

CME: Live Cattle Futures

Week 31

Week 32

Weekly growth,%

August

180.90

180.38

-0.3%

October

182.90

181.33

-0.9%

December

187.05

185.45

-0.9%

Feeder cattle futures

August

249.53

247.75

-0.7%

September

253.45

251.45

-0.8%

October

255.43

252.88

-1.0%

You can find out more about the state of the cattle market in the usa (livestock prices, the 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 for free as part of a subscription to monthly meat analytics Russian markets.