Steer prices move up steadily, nearing US$/kg 5

There have been no major changes in the cattle market over the past week. The shortage of grassfed finished animals continues, while packer demand “remains firm,” with booking windows ranging from 3 to 6.7 days, according to sources consulted by World Beef Report (WBR).

“Supply remains tight. There’s a gap between the end of grassfed cattle (fewer each day) and the emergence of those coming off winter pastures,” explained one market intermediary.

By midweek, most deals for heavy, top-grade steers were closing in the US$ 4.80–4.90 kg carcass range, while similar-grade cows were selling for US$ 4.60–4.70, and heifers were trading at US$/kg 4.70–4.80. Exceptional lots may fetch a few extra cents, but those are neither common nor representative of the broader market. Some producers are taking advantage of current prices to sell general-quality cows at US$ 4.40–4.50 and steers at US$ 4.70. Holstein cows are reaching US$/kg 4.00 without issue.

“Producers are not speculating, especially heading into winter. This is reflected in the narrowing price gap between general cattle and premium animals,” one source noted. On the supply side, no significant short-term changes are expected. On the demand side, there are still no signs that packers might reduce slaughter activity in an effort to curb the market’s recent upward trend.