Page 6 - MWC 8-6-20s

The Midwest Cattleman · August 6, 2020 · P6
Boxed beef prices sag under growing

supply and summer doldrums

By Derrell S. Peel, Extension Livestock Marketing Specialist, Oklahoma State University
The Choice boxed beef price work pushing wholesale beef Estimated cattle slaughter
dropped to $200.47/cwt. Fri- prices lower. last week was 650,000 head,
day, July 17, 2020; the lowest Estimated beef production down slightly from 655,400
Choice boxed beef price since last week was 538.4 million last year. The latest carcass
December 2017. Both supply pounds, 2.1 percent larger weights have steer carcass-
and demand factors are at than the same week last year. es averaging 896 pounds,
up 35 pounds year over year
and heifer carcasses at 826 year was 886 pounds in April
pounds, 34 pounds above the before weights moved count-
same time last year. Heavy er-seasonally higher in May
fed cattle backed up in feed- and June.
lots prevented the normal Though summer is grilling
seasonal decline in carcass season, the period between
weights in April, May, and July 4 and Labor Day is a
June. In 2019, steer carcass relatively weak beef demand
weights declined from 896 period…the dog days of sum-
pounds at the beginning of mer. This period is normally
the year to a seasonal low a slow beef demand period
of 842 pounds by the first for restaurants, aggravated
week of June; a drop of 50 this year by a still recovering
pounds. This year steer car- food service sector. For exam-
cass weights were 896 pounds ple, wholesale beef tenderloin
in June, down 16 pounds from price is currently nearly 17
912 pounds at the beginning percent lower year over year.
of the year. The lowest week- Wholesale ribeye is down
ly steer carcass weight this continued on page 15

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