Livestock Marketing Information Center

Current Situation and Analysis
Last Updated: 9/14/2018
STEER AND HOG BY-PRODUCT VALUES

          Steer and hog by-product values have been lagging all year. USDA’s Agricultural Marketing Service collects price data of byproducts (liver, hide, tallow, etc.), and calculates by-product value on a live animal basis. For the most recent week (ending September 7th), the steer by-product value was down 12% per cwt. compared to 2017’s, and hog by-product value dropped by 6%. Steer by-product values have been below $10 per cwt. for 23 straight weeks, a situation not seen since the first quarter of 2010.


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CATTLE MARKET OUTLOOK

           A strong domestic economy and robust exports have buffered beef, and hence, cattle prices against near record large U.S. beef production and all-time highs in competing meats and poultry supplies. The U.S beef cattle sector is now well into the cyclical adjustment phase, transitioning from aggressive herd expansion to very modest growth.


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U.S. MEAT AND POULTRY EXPORTS AND IMPORTS IN JULY

            Across the protein sectors, the U.S. data on a tonnage basis for July (released September 6th) showed that beef exports continued to lead the way, followed by pork, while poultry continued to lag. U.S. imports of both beef and pork declined year-over-year. However, lamb and mutton imports surged.


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