Livestock Economics

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Livestock Economics

BUDGETS: cow calf, backgrounding, summer grazing

LMIC: Analysis and Comments, In the Cattle Market, Livestock Monitor

MARKET REPORTS: area market reports

PRESENTATIONS: meeting presentations

LEASE PUBLICATIONS - farm and ranch

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Slaughter steer prices reached all time record highs at $171.38/cwt. in late November 2015. Prices since have declined but are record high for this time of the year and currently at $161.07. The decline in prices is demand related because lower fed cattle and beef supplies are supporting prices. 2015 beef production is down 5.2% from last year with a 6.4% decline in steer slaughter and a 8.7% decrease in heifer slaughter. On the demand side, increasing production of competing meats with lower prices is negatively impacting cattle prices. USDA is projecting 2015 record pork, broiler, and total meat production. Pork production may exceed beef production for the first time since 1952. Adverse East Coast weather has affected supermarket and restaurant meat demand. Beef, pork, and chicken exports are struggling due to the high $U.S. value, West Coast dock slowdown, bird flu, and a weak Asian economy. Exports are important because the U.S. is the world's leading exporter of pork, 2nd in chicken, and 4th in beef. On a positive note, lower gasoline prices and an improving domestic economy are enhancing beef demand.

 

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