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The prices of cattle remained steady at $1.86 and the value of Select Cutout decreased 1 cent while Choice Cutout increased 2 cents. Production increased by 3 million pounds compared to the previous week’s figures. Estimated Gross Packer Margins continued decreasing. This week they went from $59.8 to $28.1
Meat production under federal inspection was 527 million pounds, +3 million pounds higher (+0.57%) than previous week and +20 million pounds higher (+3.94%) than the same week in 2023.
Prices of cattle continued to rise, with the negotiated cash price for Steer: Live FOB/5-Area/Over 80% Choice closing at $1.86, same value than previous week, and +11 cents higher (+6.29%) than in 2023 for the same week (See chart).
Our estimate for Gross Packer Margins for the week was $28.1 per head, -$31.7 (-53.01%) vs prior week and -$205.9 (-87.99%) vs same week in 2023. This is the lowest value in the past five years for this week (ending on May 11th) (See chart).
*Gross Packer Margin data is only available in our Advanced Analytics suite.
*Forecasts for specific meats cuts are only available in our Advanced Analytics suite.
Event | Dates | Location |
Animal Care & Handling Conference |
May 16-17, 2024 |
Kansas, USA |
National Restaurant Association Show | May 18-21, 2024 | Chicago, USA |
2024 SIAL Shanghai |
May 28-30, 2024 |
Shanghai, China |
*You can find a more comprehensive list of industry events in our Events section (https://emeat.io/dashboard/events).
Beef
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The EMEAT Team
Sales, Purchasing, Marketing
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