The fed cattle price recovery that has been painstakingly built since early September has eroded in an extraordinary decline over the past two weeks.
The share of Prime carcasses has more than doubled in the past 5 years, spelling greater availability and consequential wider usage among end users.
Certified Angus Beef fiscal 2019 sales tonnage volume has increased almost 6% with the June data not yet final.
The fed cattle market is holding strong in late July within a narrow trading range.
While consumers have long preferred a highly marbled, juicy steak or roast from the rib and loin, the industry struggles to achieve much premium from Choice over Select on the lower priced cuts.
The beef cattle trade has been highlighting this winter’s weather market for several weeks now, but the impact from last week’s bomb cyclone the cattle feeding belt has escalated problems for cattle performance.
May is Beef Month and the push for sales in volume is underway, driven on the promise of spring grilling demand.
The fed steer and heifer market keeps working toward normalized levels, but at a very slow pace. Last week’s $101/cwt. steer price was roughly a dollar higher than the week prior.