Page 17 - MWC 9-14-2023s

The Midwest Cattleman · September 14, 2023 · P17
Short Supplies, Higher Beef Prices

By Paul Dykstra, CAB
The fed cattle market has weeks brought on increases ket typically
stagnated since mid-July, of 13,000 head and 10,000 experiences
encumbered primarily by head, respectively. price increases
exceptionally small slaugh- With slaughter productiv- as spot market
ter head counts. Last week’s ity depressed, carcass cutout fill-in orders
$183/cwt. fed steer price was values responded as expect- from end users
the smallest since mid-July. ed. The comprehensive boxed pull prices up
In the meantime, packing beef cutout value increased from early Au-
sector margins are solidly in from the early August low of gust lows.
the black again after dipping $297.17/cwt. to last week’s The upward
below breakeven levels from $310.79/cwt., a 4.6% move. price action
late July through most of Au- The CAB cutout touched a was seen on In the waning days ahead of Labor Day spot market beef prices are
gust. Three weeks ago, fed seasonal low the first week many chuck posting positive numbers, boosting a bit of optimism into the total beef
cattle slaughter reached the of August at $312.49/cwt. be- and round complex.
smallest non-holiday week- fore rallying 3.5% through items even
ly total (471K head) since last week to average $323.33/ though many of them are top butts all priced lower last
January. The two following cwt. typically not in high demand week within the seasonally
Besides the by consumers for Labor Day. anticipated trend for each of
inflationary However, ribeyes and ten- these items.
impact of re- derloins are simultaneously
stricted steer posting higher price points in Short Supplies, Higher
and heifer the latest report, with pric- Beef Prices
slaughter, the es just below the 2021 re- In the waning days ahead
uptick in pric- cord-high prices for this time of Labor Day spot market
es is within of year. beef prices are posting posi-
seasonal ex- Several thin meats have tive numbers, boosting a bit
pectations recently seen price cuts from of optimism into the total beef
as well. Just historically high price points, complex. Historically, the up-
ahead of Labor such as flank and skirt meats. trend will subside following
Day the mar- Short loins, strip loins and continued on page 28

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