USA: Cattle market overview for the 35th week of 2021

The cost of Choice MEAT in the US market fell by $1.5 per week, the price of Select beef decreased by $0.84. Choice/Select price leverage rose to $32.29.

The markets finished the week in different directions. In cash markets, prices were higher for fattened cattle and block beef. Prices for forage cattle were mixed, as heavier steers were sold at a higher price and lighter steers at a lower price. Livestock futures prices fell after a recent spike. Feed cattle futures showed a similar picture. The volatility of cattle futures contracts is declining rapidly. For nearby contracts, implied volatility increases rapidly at lower ask prices. The price of corn rose sharply over the week, which also put pressure on the market.

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WEEKLY CUT CHOICE COST

AVERAGE WEEKLY LIVESTOCK PRICE

Sale of livestock, heads

Average weight

average price

08/27/2021

09/03/2021

Growth,%

08/27/2021

09/03/2021

Growth,%

08/27/2021

09/03/2021

Growth,%

Bulls (live weight)

10 867

19 507

79.5%

1463

1475

0.8%

125.98

126

-0.2%

Heifers (live weight)

5771

5590

-3.1%

1288

1298

0.8%

123.59

124.77

1.0%

Bulls (slaughter. weight)

13607

10947

-19.5%

951

958

0.7%

204.18

201.78

-1.2%

Heifers (slaughter weight)

3118

2151

-31.0%

853

861

0.9%

203.85

202.1

-0.9%

WEEKLY WEIGHTED AVERAGE PRICE OF BULLS

BEEF PRODUCTION

04.09.2021

A week earlier

A year ago

Growth per week,%

Growth per year,%

Slaughter volume

624 000

651 000

635 000

-4.1%

-1.7%

Live weight

1356

1 352

1 375

0.3%

-1.4%

slaughter weight

821

819

841

0.2%

-2.4%

Beef production (million pounds)

511.4

531.9

533.2

-3.9%

-4.1%

CME, livestock futures

Week 34

Week 35

Growth per week,%

August

122.00

124.80

2.3%

October

129.13

130.93

1.4%

December

135.33

135.15

-0.1%

CME, fattening cattle futures

September

164.65

158.48

-3.7%

October

168.43

162.48

-3.5%

November

169.95

165.28

-2.7%