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Notes: unless otherwise noted, comments correspond to the week ending September 27th, 2024.
The Choice Cutout closed at $2.99, three cents lower than the previous week and two cents lower than same week last year, when the reported figure was $3.01 (See chart).
The Select Cutout closed at $2.84, six cents lower than the previous week and six cents higher than same week last year, when the reported figure was $2.78 (See chart).
Meat production under federal inspection was 524 million pounds, four million pounds lower than the number reported in the previous week and 19 million pounds higher than in 2023 (See chart).
Cattle prices increased slightly, with the negotiated cash price for Steer: Live FOB/5-Area/Over 80% Choice closing at $1.86, two cents higher than the previous week and two cents higher than the same week in 2023 (See chart).
Our estimate for Gross Packer Margins for the week was $104 per head, $53 lower than the prior week and $34.5 higher than the same week in 2023.
* Gross Packer Margin data is only available in our Advanced Analytics suite.
The reported figure for beef exports for the week ending 9/19/204 was 28.1 million pounds, which is 8.6 million pounds lower than the prior week and 6 million pounds lower than the same week the previous year.
Live Cattle Futures for October 2024 contracts closed at $1.84. For December 2024 contracts the price was also $1.84.
Our 8-week forecast estimates the Choice Cutout price at $3.04, five cents higher from the week ending on 9/27/2024 (See chart).
* Forecasts for specific meats cuts are only available in our Advanced Analytics suite.
EVENT | DATES | LOCATIONS |
2024 Protein PACT Summit | October 9-11 | Austin, Texas, USA |
FIGAP 2024 | October 16-18 | Guadalajara, Jalisco, Mexico |
SIAL Paris | October 19-23 | Villepente, Paris, France |
*You can find a more comprehensive list of industry events in our Events section.
Beef
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The EMEAT Team
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