![]() ![]() The Weekly Steer and Heifer Grading Report is indicative of regional supplies of choice and prime cattle and often is determinative of regional differences is live price. The combined steer and heifer weights can easily be influenced when the proportion of steers to heifers in the weekly slaughter changes. Carcass weights will be fundamental in determining total beef production. The latest report shows carcass weights at 862# up 2# from prior week and 2# under last year. The report is published each Tuesday and includes the previous week’s change in carcass weights and quality grading. The Comprehensive Fed Cattle Weekly Report offers the most current information on the current status of fed cattle being harvested. Beef producers are able to measure the marketing price for their cattle compared to the national averages. The report summarizes the distributed price levels for each category of sale such as Negotiated/Formula/Forward Contracts. On Tuesday of each week, USDA releases a weighted average price report for all cattle sold the previous week. Until the CME changes the construction of the contract, expect inadequate correlation between cash and futures.īenchmarking. There appears to be little reason for expect futures prices to close the August contract to a mid point between southern and northern sales as long position holders shy away from threats of delivery. Prices were higher in anticipation of higher cash prices today. ![]() The weather forecast is pointing to some decline in the extreme temperatures of this month.Ĭattle Futures. Box prices normally find a bottom for the summer following Labor day. The upcoming weeks will continue smaller slaughter levels leading up to Labor day. The summer heat wave is doing little to help beef demand. The slaughter reduction from last year is dramatic with this past week’s slaughter 47,000 head under last year. The slaughter this past week was 619,000 down 5,000 head from the previous week further impacting processing margins as cost/head to process moves higher in the nation’s beef plants. The most optimistic sign was a forecast cooling trend expected next week. The industry has been waiting and watching for signs the lull in summer demand for beef has concluded. This week is following previous weeks with the bulk of trade expected today in all regions. Dressed prices were lightly reported at $294-$296 – steady to $1 higher. Indications of higher prices were reported with live sales from $188-190 in Iowa and Nebraska. June 9, sale of all breed feeders, cows and bulls.A trickle of sales came from northern sources with no sales in the south. ![]()
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