Weekly US Cattle Outlook: Beef And Veal Exports Down

US - Weekly Cattle Outlook, 17th June 2009 - Weekly review of the US cattle industry, written by Glenn Grimes and Ron Plain.

20 July 2009

2 minute read

North America

Ron Plain

Beef and veal exports in May were down 4.2 percent from 2008. However, for January-May, beef exports were up 2.6 percent from a year earlier.

Beef and veal imports for January-May were up 12.5 percent from 12 months earlier. Beef exports in January-May to Mexico were down 19.3 percent, to Canada down 13.1 percent, to Japan up 15 percent to Taiwan down 13.1, percent to South Korea up 382.5 percent, to Vietnam up 66.6 percent, to Hong Kong up 24.2 percent, to the Bahamas up 33.3 percent and to other countries down 6.4 percent from 12 months earlier.

Net beef imports as a percent of production in January-May of 2009 was 5.03 percent compared to 3.76 percent in the same months last year.

Live feeder cattle imports from Mexico for January-May were up 23.6 percent from a year earlier. However, Canadian live cattle sales to us were down 30.2 percent, and total live cattle imports in January-May were down 14.7 percent from 12 months earlier.

Cow slaughter continues to be mixed again for the week ending July 4. Dairy cow slaughter was up 46.9 percent, and beef cow slaughter was down 3.3 percent from a year earlier. Total cow slaughter was up 16.6 percent from a year earlier for the week ending July 4.

Feeder steers and heifers were $1-2 per cwt higher than last week at Oklahoma City. Steer and heifer calves were steady to $3 per cwt lower than seven days earlier.

The pries by weight groups for medium- and large-frame Number One steers at Oklahoma City were: 400-500 pounds $105-117.50 per cwt, 500-600 pounds $101.50-109.75 per cwt, 600-700-pound calves $97.25-105.75 per cwt, 700-750-pound calves $94-98.50 per cwt, 600-700-pound yearlings $102-107.25 per cwt, 700-800 pounds $100-106.25 per cwt and 800-1,000 pounds $90.25-102.25 per cwt.

Wholesale beef prices this Friday morning had Choice beef at $136.47 per cwt, down $0.93 per cwt from a week earlier. Select beef at $130.58 per cwt was down $1.93 per cwt from seven days earlier.

The weighted average live fed cattle price for the five-market area through Thursday was $83 per cwt lightly tested, up $1.72 per cwt from last week. The weighted average negotiated carcass price for the five-market area through Thursday at $129.38 per cwt was down $0.01 per cwt from a week earlier.

Slaughter this week under Federal Inspection was estimated at 627 thousand head, down 8.7 percent from a year earlier.