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US beef prices steady as demand shows some improvement 26 Jan 2010
According to USDA, US beef prices are generally steady as supplies tighten and demand shows some signs of improving.
Steer and heifer slaughter totals were reported by USDA last week to have reached 665,000 head, up about two percent from the previous week and up 3.5 percent from 2009. Going against the long-term trend toward heavier weights, live weights and dressed weights were steady from the prior week and one year ago, at 1,296 and 778 pounds respectively.
USDA reports an average live-steer price of US$84.30 per hundredweight and US$138.41 per hundredweight on a dressed-weight basis, both up slightly. Close to last week’s average, the Choice beef cutout averaged US$144.95 for the week.
Industry analysts say there also is some indications that as consumers return to more typical dining habits, beef demand could begin to improve.
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