Cash cattle prices fall as week goes on

 

Jeff Swenson, Wisconsin State Farmer

Jul 19, 2021

 

Prepared and written by Jeff Swenson, DATCP Livestock and Meat Specialist. The Market Update draws information from several sources, including trade publications, radio broadcasts, agricultural news services, individuals involved in the industry as well as USDA NASS and AMS reports.

 

Cash cattle started the week steady, but were lower by Thursday, albeit on a light test late week. Cattle, both cash and futures, continue to be stuck in a range.

 

Domestic demand for beef is still strong, although there are indications that seasonal demand changes are occurring – something that we didn’t necessarily see last year. What many call the summer doldrums or the “dog days of summer” will typically bring a decrease in whole muscle cut (steak) demand.

 

The product price is under pressure with the Choice beef cutout Wednesday afternoon at $269.87. The latest weekly export data reports orders for 9,300 metric tons of US raised beef. That was disappointing after the prior week’s total of 23,700 metric tons.

 

Last week’s harvest estimate was 582,000 head. Sustained weekly harvest totals of 650,000 head or more coupled with an expected tightening of fed cattle supplies would give strength to cash, which would lead the futures higher.

 

Pork market finds strength ...

 

Consumer Price Index up ...

 

Rains arrive ...

 

State markets remain largely steady ...

 

more

https://www.wisfarmer.com/story/opinion/columnists/2021/07/19/cash-cattle-prices-fall-week-goes/7972521002/