NYS Livestock Report – June 11, 2020

Feeder prices up compared to last year. Finished steers showing seasonal decline and cull cow prices on hold.

The beef packing industry is now estimated to be at 98% capacity compared to last year. No one had predicted such a rapid increase in slaughter rate. According to the Daily Livestock Report (6/16/20) total meat protein supplies are now 1.2% higher than last year. With increased supplies the beef cutout has declined to near year ago levels. This will incentivize retailers to purchase more and feature beef to move product. The lower prices are also attracting global markets thus increasing exports.

Full report