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U.S. Cattle Imports Drop In 2015, Lowest Since 2005
U.S. beef imports were down 35.2 percent in December at 186.2 million pounds. Over half of the decline was in beef imported from Australia. December imports equaled 9.1 percent of U.S. beef production. For all of 2015, beef imports were up 14.4 percent.
U.S. beef exports were down 7.6 percent in December to 196.1 million pounds with most major foreign customers, except South Korea, buying less U.S. beef than they did in December 2014. December exports equaled 9.6 percent of U.S. beef production. For all of 2015, beef exports were down 11.9 percent.
December live cattle imports totaled 155,636 head. This was down 43.7 percent compared to 12 months earlier with 36.4 percent fewer Mexican cattle imported and 53.8 percent fewer cattle imported from Canada. The U.S. exported 8,202 cattle during December.
For all of 2015, the U.S. imported 1,984,413 cattle and exported 72,456 head. During 2015, 58.2 percent of cattle imports came from Mexico and 41.8 percent of the cattle imports came from Canada. 81 percent of U.S. cattle exported went to either Canada or Mexico. Last year's U.S. cattle imports were 15.8 percent fewer than in 2014, and the fewest for any year since 2005.
Fed cattle prices were a bit lower this week in heavy volume. Through Thursday, the 5-area average price for slaughter steers sold on a live weight basis was $131.70/cwt, down 50 cents from last week’s average and down $28.84 from a year ago. Dressed steer prices averaged $205.96/cwt.
This morning the choice boxed beef cutout value was $216.67/cwt, down $5.83 from the previous Friday and down $21.42 from a year ago. The select carcass cutout was $213.27/cwt, down $5.18 from last week and down $21.10 from a year ago.
This week’s cattle slaughter totaled 544,000 head, up 1.9 percent from last week and up 0.7 percent from a year ago.
The average steer dressed weight for the week ending on January 30 was 898 pounds, down 1 pound from the week before, but up 17 pounds from a year ago. This was the 85th consecutive week with steer weights above the year-ago level.
Prices at the Oklahoma City Stockyards this week were $2 to $5 lower on feeder steers and steady to $2 higher on calves than last week. Prices for medium and large frame #1 steers by weight group were: 400-450# $221-$226, 450-500# $204-$217, 500-550# $192.50-$210, 550-600# $172-$195, 600-650# $164-$178, 650-700# $152.50-$165, 700-750# $146-$161.75, 750-800# $140.50-$153.50, 800-900# $137-$152 and 900-1000# $130-$144.75/cwt.
Cattle futures were sharply lower this week. The February live cattle futures contract settled at $129.95/cwt today, down $6.10 for the week. April fed cattle settled at $129.12/cwt, down $5.28 from the previous week. The June contract ended the week at $119.62/cwt, down $4.43 from the previous Friday.
March feeder cattle ended the week at $150.02/cwt, down $3.80 from a week earlier. April futures lost $3.97 this week to close at $149.50/cwt. May feeder cattle settled at $148.82/cwt. ∆
DR. RON PLAIN AND DR. SCOTT BROWN: Agricultural Economists, University of Missouri
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