Mother’s Dat shopping? Done.
Federally Inspected cattle harvest in mid-April was again slightly up from its previous week (2%), estimated at 623,000. That was still well off of last years’ mark as packers continue their reluctance to sizably increase the harvest in the face of moderate demand. After all, Mother’s Day is just around the corner… Analysts’ expectations coming into the week was for trade to occur at lower prices, but that didn’t happen: the futures market finished the week on a positive note and pushed cash cattle to trade $1 higher than previous week.
Boxed beef traded in a sideways fashion across all grades. Buyers had filled most of their needs for both Mother’s Day and Memorial Day holidays and are now looking to procure product for the first few weeks of June. Packer margins continue to run in the black due to favorable live cattle and boxed values. Additionally, drop credit (highly influenced by hide values) have also put in record high prices for the year. CAB acceptance for the week of 4/15 stood at 23%, one point below the previous week.
Until we meat again,
~David
You may also like
$100,000 Up for Grabs with 2024 Colvin Scholarships
Certified Angus Beef is offering $100,000 in scholarships for agricultural college students through the 2024 Colvin Scholarship Fund. Aspiring students passionate about agriculture and innovation, who live in the U.S. or Canada, are encouraged to apply before the April 30 deadline. With the Colvin Scholarship Fund honoring Louis M. “Mick” Colvin’s legacy, Certified Angus Beef continues its commitment to cultivating future leaders in the beef industry.
Raised with Respect™ Cattle Care Campaign Launched This Fall
Raised with Respect™ was developed as part of a strategic cattle care partnership between Sysco and CAB. The collaboration focuses on supporting farmers and ranchers, equipping them with continuing education to stay current on best management practices and helping to increase consumer confidence in beef production.
Quality Wins, Again
Sara Scott, Vice President of Foodservice for Certified Angus Beef, emphasizes the importance of taste over price in the beef market during the Feeding Quality Forum. As consumer demand for high-quality beef grows, Scott highlights the need for increased supply and encourages communication with packer partners to meet the demand for Prime beef.