Weekly cattle slaughter started 2023 trending decrease than a 12 months in the past. Beef cow slaughter, heifer slaughter, and steer slaughter have every begun 2023 with decrease slaughter totals than in 2022.
The latest decline in beef cow slaughter is probably probably the most attention-grabbing given the massive cow slaughter totals seen in 2022. Drought and better enter prices relative to calf costs result in actually excessive beef cow slaughter in 2022 (about 11 p.c above 2023). Nevertheless, beef cow slaughter has moderated to start 2023 as proven within the chart above.
Over the primary 10 weeks of 2023, beef cow slaughter totaled 683,700 head which is almost 9 p.c under the primary 10 weeks of 2022. Improved drought circumstances in lots of components of the U.S. and optimism about calf costs are key contributors to fewer cows going to market than a 12 months in the past. It’s price noting that beef cow slaughter usually declines seasonally in the course of the first few months of the 12 months.
Heifer slaughter has additionally flipped to a slight decline after massive totals in 2022. Heifer slaughter totaled 1.96 million head via the primary 10 weeks of 2023 which is about 0.5 p.c decrease than the identical interval of 2022. Nevertheless, this is a crucial shift from the bigger totals seen in 2022. Heifer slaughter in 2022 was about 5 p.c larger than in 2022. The explanations for larger heifer slaughter in 2022 have been just like beef cows: drought and enter prices relative to anticipated returns from retaining heifers for breeding functions.
Steer slaughter was 3.5 p.c decrease over the primary 10 weeks of 2023 in comparison with the identical interval in 2022. By the week of March eleventh, 2.88 million head of steers have been processed which is down from 2.99 million head to start out 2022. Proven within the first chart under, steer slaughter was not elevated above common ranges in 2022 like beef cow and heifer slaughter totals have been.
Steer slaughter in 2022 was about 2 p.c decrease than in 2021. Smaller calf crops over the previous few years imply there are fewer steers transferring via feedlots and that pattern is anticipated to proceed in 2023. Additionally attention-grabbing is the decrease steer dressed weights (proven within the second chart under) as feedlots grow to be more and more present. Fewer steers slaughtered and decrease dressed weights are key drivers to the expectation of decrease beef manufacturing in 2023.
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