USA: Cattle market overview for the 28th week of 2023

Published 2023년 7월 22일

Tridge summary

The USDA reported cash market livestock sales ranging from $180-$186, with little trading in the south. The cost of block beef is showing seasonal weakening for the second week in a row after the Fourth of July holiday. Retail prices for fresh beef reached a new all-time high at $7.57/lb in June, up 3.1% from last year. Additionally, in May, US beef exports decreased by more than 13% in countries like China, Japan, South Korea, and Vietnam, while imports increased by 6% month-on-month. The price of US beef is expected to impact global beef exports, with an estimated 13% decline in exports and an 8% increase in imports predicted for the year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The USDA reported cash market livestock sales of $180-$186 on Friday, although there was little trading in the south during the week. Friday's FCE auction saw two sales: 122 heifers at $178.50 and 116 bulls at $179. The cost of block beef is starting to show seasonal weakening. The compound contraction marks the second week in a row, indicating normal seasonal market weakness that often occurs after the Fourth of July holiday. At the same time, beef retailing has reached new heights. Last Wednesday, USDA ERS released retail meat prices detailing how much consumers paid for meat in June. All aggregate fresh beef retail prices reached a new all-time high of $7.57/lb, up about 3 cents/lb from the previous all-time high in October 2021. Retail prices for fresh beef are 3.1% higher than last year. The USDA Economic Research Service (ERS) on Friday released carcass trade data for May 2023. In beef, trends have largely continued, with imports up 6% month-on-month and exports down 16% ...

Source: Agronovosti