Steer and hog by-product values (non-meat items) have been lagging all year.
See the article below from the new Livestock Monitor newsletter.
A strong domestic economy and robust exports have buffered beef, and hence, cattle prices against near record large U.S. beef production and all-time highs in competing meats and poultry supplies.
For some more details, see the Livestock Monitor newsletter article below.
USDA's ERS and FAS released July's monthly trade data recently (September 6th). U.S. Beef Exports remained at a record pace, led by strong year-over-year increases in sales to South Korea.
Additional comments on exports and imports of beef, pork, lamb, and poultry are in the article below.
For more graphics, from the main menu bar select "Key Graphs" and then "International."
Steer and hog by-product values have been lagging all year. USDA’s Agricultural Marketing Service collects price data of byproducts (liver, hide, tallow, etc.), and calculates by-product value on a live animal basis. For the most recent week (ending September 7th), the steer by-product value was down 12% per cwt. compared to 2017’s, and hog by-product value dropped by 6%. Steer by-product values have been below $10 per cwt. for 23 straight weeks, a situation not seen since the first quarter of 2010.
A strong domestic economy and robust exports have buffered beef, and hence, cattle prices against near record large U.S. beef production and all-time highs in competing meats and poultry supplies. The U.S beef cattle sector is now well into the cyclical adjustment phase, transitioning from aggressive herd expansion to very modest growth.
Across the protein sectors, the U.S. data on a tonnage basis for July (released September 6th) showed that beef exports continued to lead the way, followed by pork, while poultry continued to lag. U.S. imports of both beef and pork declined year-over-year. However, lamb and mutton imports surged.
In The Cattle Markets
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