USA: Cattle market overview for the 11th week of 2023

The Dow and S&P 500 ended lower as problems at Credit Suisse increased pressure on the banking sector. The drop in stocks has hit cattle futures in particular because the weak economy could dampen consumer demand for high-priced beef, said Rich Nelson, chief strategist at brokerage Allendale.

By the end of the week, the market recovered slightly. In the cattle markets, spin-off support from rising stocks of cattle helped recover futures prices, traders said.

WEEKLY CUT CHOICE COST

CATTLE SALES

Sale of livestock, heads

Average weight

Week 10

Week 11

Growth per week,%

Week 10

Week 11

Growth,%

Bulls (live weight)

9 845

23 465

138.3%

1419

1466

3.3%

Heifers (live weight)

3 957

11 701

195.7%

1 314

1 339

1.9%

Bulls (slaughter. weight)

4 837

10 930

126.0%

927

941

1.5%

Heifers (slaughter weight)

4 123

2604

-36.8%

847

838

-1.1%

WEEKLY WEIGHTED AVERAGE PRICE OF BULLS

BEEF PRODUCTION

Index

Week 11

Week 10

11 week 2022

Growth per week,%

Growth per year, %

Slaughter volume

631 000

634 000

636 000

-0.5%

-0.8%

Live weight

1376

1378

1 393

-0.1%

-1.2%

slaughter weight

825

826

838

-0.1%

-1.6%

Beef production (million pounds)

519.1

522.1

531.8

-0.6%

-2.4%

CME: Live Cattle Futures

Week 10

Week 11

Growth per week,%

April

164.28

162.33

-1.2%

June

158.65

156.40

-1.4%

August

158.45

156.40

-1.3%

Futures for fattening cattle

March

191.48

188.85

-1.4%

April

197.65

194.65

-1.5%

May

203.58

199.95

-1.8%

You can learn more about the state of the cattle market in the United States (cattle prices, beef prices 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 free of charge as part of a monthly meat analytics subscription. Russian markets.