Beef Industry Expecting Market Equilibrium in Fourth Quarter

AMARILLO, TX – Beef packing plants weekly harvest numbers rebounded from lows of 425,000 head for the week ending May 5th. Nationally, beef slaughter numbers for the week ending May 30th will be estimated at 524,000 head on a holiday-shortened week. According to Dr. Derrell Peel, Oklahoma State University Livestock Economist, the beef supply chain should catch up moving into September and October. April placements were down 22 percent year-over-year and March saw a 23 percent placement drop bringing the total feedyard placements down 867,000 head for both months. The beef industry will spend the summer catching up and low placements in March and April should leave a marketing window in the fall if not earlier.
(SOURCE: Texas Cattle Feeders Association)