December 20, 2004

 

 

US Beef Imports Rise; Cattle Imports Fall Due to BSE

 

US beef imports for the first 10 months were larger by 1.3% than for all of last year.  From January to October, beef imports were up 24.4% from 12 months earlier.  All major exporters to the US were up in rates for January through October except Australia.   For January through October, Australian exports were down 5.2%, New Zealand up 3.7%, Canada up 60.3%, Brazil up 4.3%, Argentina up 33.8%, Central America up 17.7%, Uruguay up 351.0%, and Mexico up 23.5%.

 

Our beef exports were down by nearly 84% from a year earlier for January through October compared to 2003.

 

Our live cattle imports from Mexico for January through October were up nearly 25% from the same period 12 months earlier.

 

Our total live cattle imports for the first 10 months of 2004 were down over 22% because of the embargo for live cattle from Canada due to BSE.

 

There is a chance that the border from Canada, for at least young cattle, will be opened sometime in the first three months of 2005.

 

Live fed cattle prices were held in the mid 80s this week for the five-market-area. The five-market-area average weighted price for the week through Thursday at $84.25 per cwt was steady with a week earlier. The weighted average carcass price was down $6.90 from 7 days earlier at $134.00 per cwt.

 

The range in prices for the Midwest direct trade was $82 to $84 per cwt. The weighted average price for the Midwest was $83.38 per cwt. The price for the High Plains was $86 per cwt with a weighted average of $86 per cwt.

 

Beef product prices were pushed lower this week. Yield 3 Choice beef at $136.65 per cwt was down $5.25 per cwt from Friday morning a week earlier. Yield 2-3 Select was down $7.18 per cwt for the week at $128.62 per cwt Friday morning.

 

Feeder cattle and calf prices at Oklahoma City were steady to $3 per cwt below a week earlier.

 

The prices per cwt for medium and large frame number 1 steers at Oklahoma City this week by weight groups were: 400-500# $120.50 to $150.50, 500-600# $106.75 to $126.50, 600-700# calves $103 to $111.50, 700-800# calves $97 to $103.75, 650-700# yearlings $105.50 to $110.50, 700-800# $102.50 to $109, and 800-100# $95.75 to $103.75.

 

Slaughter this week under Federal Inspection was estimated at 624 thousand head --- down 1.9% from a year earlier.

 

The number of cattle on feed December 1 came in slightly less than the trade estimates at 100.1% of a year ago.

 

Placements on feed during November were down 9.5% from 12 months earlier. Fed marketings during November were up 5.7% from a year earlier.