Light trade was reported at the start of the week on animal proteins, with most participants testing market values with the continued ebb and flow of grains on the CME.
For the week ending October 21, cattle slaughter is forecasted at 640,000 head, down 4.1 percent from 2022 but up 1.6 percent from last week. Over the next six weeks, cattle slaughter is expected to average 634,170 head per week, down 3.1 percent from 2022 and 2.6 percent from 2021. Even with the inclusion of the Thanksgiving slaughter drop, this is a 0.6 percent rise from the prior six-week average due to the lower slaughter levels throughout the summer.
According to the USDA Actual Slaughter Under Federal Inspection for October 19 average live weights at 1,373 pounds, nine pounds lower than 2022 for the respective week.
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