Weekly US Cattle Outlook - Cattle Inventory in Canada Down

US - Weekly Cattle Outlook, 31st August 2007 - Weekly review of the US cattle industry, written by Glenn Grimes and Ron Plain.
calendar icon 3 September 2007
clock icon 3 minute read

The July 1 cattle inventory in Canada was down 0.7 percent from 12 months earlier. The number of cows and heifers that had calved in Canada on July 1 was down 1.2 percent.

The combined U.S. and Canada cattle herd on July 1 was down 0.4 percent from the same date in 2006. The combined number of cows and heifers that had calved was also down 0.4 percent from a year earlier.

This data points to a slightly smaller calf crop in 2007 than 2006 for North America. Cow slaughter in the U.S. through the week ending August 11 was up 9.3 percent from a year earlier. Dairy cow slaughter was up 9.2 percent and beef cow slaughter was up 9.4 percent. However, total cow slaughter in the U.S. for the four weeks ending August 11 was down 5.1 percent from last year. Dairy cow slaughter for the four-week period was basically flat with a year earlier, but beef cow slaughter was down 8.5 percent from 12 months earlier.

The smaller beef cow slaughter in late July and early August this year was probably near normal and being smaller than last year was due to a relatively large cow slaughter, which was due to dry weather in a significant part of beef-cow country. We do not believe producers are starting to build the cow herd.

Consumer demand for beef for January - July of this year was up 0.8 percent from last year. The demand for live fed cattle for this seven-month period showed a good growth of 3.9 percent from 2006. The larger growth in live fed cattle demand than retail consumer beef demand was due at least in part to larger beef exports.

Calf slaughter for July 2007 was eight percent above a year earlier. Calf slaughter for the first seven months of 2007 was up 16 percent from 12 months earlier. This is another reason why we do not believe we have stopped the slow decline in the cow herd.

Feeder cattle prices at Oklahoma City were $1-2 per cwt higher and steer and heifer calves were $3-5 per cwt above a week earlier.

The prices by weight groups for medium and large frame Number One steers were: 400-500 pounds $126.50-136 per cwt, 500-600 pounds $120-130 per cwt, 600-650-pound calves $117-18.50 per cwt, 600-700-pound yearlings $120-125, 700-800 pounds $114.50-123.75 per cwt and 800-900 pounds $106,25-117 per cwt.

Wholesale beef prices were pushed a bit higher this week with Choice beef Friday morning at $147.68 per cwt, up $4.78 per cwt from a week earlier. Select beef prices were up $3.35 per cwt at $140.38 per cwt Friday morning.

The weighted average negotiated live cattle price through Thursday for the five-market area was up $1.65 per cwt from a week earlier at $94.35 per cwt. The weighted average negotiated carcass price through Thursday at $148.50 per cwt was up $2.75 per cwt from seven days earlier.

Slaughter this week under Federal Inspection was estimated at 698 thousand head, up 2.0 percent from a week earlier.

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