US slaughter levels drop

According to meatingplace.com, total slaughter dropped in the first week of December to 618,000 head, representing an almost 7.5% reduction from the year-earlier period. Steer and heifer fell 7.8% to 486,000 head from 527,000 head and cow and bull slaughter declined 5 to 132,000 head.

Analysts said wholesale beef prices closed the week down 3.3% on the week before and were slightly below year previous levels, but noted two additional factors are affecting the cattle complex: plummeting feeder cattle prices due to limited demand from feedlots and a sharp decline in cattle hide/offal values owing to a decline in export prices.

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