- This week in the markets – Live fed cattle prices were $1.75 higher on the week. Feeder cattle markets were steady to $1.00 lower this week. October live cattle were down $1.20. October feeder cattle were down $2.65. Choice box beef was down nearly $4.80 this week on weakness on all components. Cash hogs were $1.50 lower this week. October lean hog futures were down $4.15 on the week. Pork cutout values were down nearly $2.60, primarily on weaker loin, belly, and ham prices.
- Weekly Slaughter Numbers - At the end of the week, cattle slaughter was 667,000 head, unchanged for the week and up 24,000 for the year. Hog slaughter was 2.538 million head, that’s up 73,000 from the previous week and down 45,000 on the year. Year-to-date cattle slaughter is 1.5% higher and hog slaughter is running 3.2% behind.
- Cold Storage – Meat inventories continue to grow with August beef ending stocks 24.3% higher than a year ago and pork ending stocks up nearly 17.1% over the year-ago level.
- Livestock Slaughter – Jan through August beef production is up 1.6% relative to the same period a year ago while pork production is down 2.2% year to date relative to the same period last year. Beef cow slaughter increased in August at the lowest level since January up 7.2%. Heifer slaughter year to date is 4.2% above year-ago levels.
- Cattle on Feed – Cattle on feed on September 1 equaled the year-ago level and came in near the pre-report estimate. Cattle placements in August remained slightly above the year-ago level at 100.4% of a year ago. Higher light-weight placements drove overall August placements.
- Next week’s reports – Quarterly Hogs and Pigs and Restaurant Performance Index
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