Monday trade was light with the start of the week and ahead of the release of the WASDE report on Tuesday September 12th. Slaughter levels have been injected into most conversations with contacts, as expected diminished offerings weigh on market sentiment for closer sessions.
For the week ending September 16th, cattle slaughter is forecast at 640,000 head, a 4.9-percent decrease from 2022 but a 14.5-percent incline from last week due to the Labor Day holiday weekend. Over the next six weeks, cattle slaughter is projected to average 643,300 head per week, down 3.9 percent and 0.9 percent from 2022 and 2021, respectively. As of the end of the second month in Q3 2023, cattle slaughter is 3.9 percent below the three-year average with expectations of continued slumps until Q4.
According to the USDA, Actual Slaughter Under Federal Inspection for August 26th, average live weights are currently at 1,355 pounds.
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