- - US Markets: Monthly Update INVENTORY OF CATTLE THAT HAVE BEEN ON FEED FOR 120 DAYS OR MORE US on feed supplies on June 1 were 11.74 million head, Calcuated using the USDA Monthly "Cattle on Feed" Report 1.6% higher than a year ago. Feedlots placed 2.064 million head 5,000 of cattle on feed during May, 2.8% less than a year ago. The June 1 Est. -0.6% decline was smaller than analysts polled ahead of the report 4,500 were expecting. A number of factors pointed to a reduction in the number of cattle placed last month. The number of +600lb 4,000 feeder cattle traded last month in the country was down as much as 30% compared to a year ago, corn prices sharply esca- lated in the second half of May and the modest increase in feed- 3,500 er imports from Mexico was offset by a similar reduction in Canadian imports. The fact that feedlots placed just 2.8% fewer 3,000 cattle than the extremely high level of placements last year could 5-Yr Avg. 2017 2018 2019 2013 pressure fed cattle futures lower. It is important to focus on the 2,500 breakdown of placement weights, however. Placements of Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec calves under 600 pounds were 75k head or 17% lower than a year ago while placements of feeders 600-699 pounds were 35k FEEDLOT TURN-OVER RATE (MARKETINGS VS. +90 DAY INVENTORY) head or 10% lower than a year ago. On the other hand, feedlots Calcuated using USDA Monthly "Cattle on Feed" Survey Data placed 889k head of feeder cattle over 800 pounds, 30k head or 40%
3% more than the already high levels we saw a year ago. The 38% reduction in placements of light calves will limit the supply of 36% feedlot cattle later this year (Nov/Dec) while higher placements Jul-19 of yearlings could keep late summer cattle prices in check. 34% Aug-19 Sep-19 The supply of cattle that have been on feed for 120 32% Oct-19 days or more is currently estimated at 4.230 million head, 0.6% Nov-19 Dec-19 lower than a year ago. This is the first time since October 2017 30% May Est. that the +120 day cattle supply has 32.9% 28% posted a y/y decline. Lower place- ments in June combined with a 26% United States Update 1 2016 2017 2018 2019 2012 robust marketing rate should con- 24% Australian Update 2 tinue to reduce the front end cattle Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec supply during the summer months. New Zealand Update 2 For that to happen feedlots will need to say aggressive in their mar- beef imports as well as end users drawing down their invento- Canadian Update 3 ketings, especially since in the last ry to fill Memorial Day needs have resulted in a sharp con- two months feedlots have placed traction in beef stocks. The inventory of boneless beef in Uruguay Update 3 90k more cattle weighing over 800 cold storage at the end of May was 12.9% lower than a year ago. In the last five years the drawdown in boneless beef Brazil Update 4 pounds, cattle that will be market ready in late July and August. stocks during May averaged 4.2% compared to a 6.4% decline this year. The low cold storage inventory may help explain The total supply of beef in Argentina Update 4 the very strong fat beef trim prices we have seen during June. cold storage at the end of May was The inventory of beef cuts in June was 15.9% lower than a Quota Situation 5 403.6 million pounds, 13.1% lower year ago and 14.8% lower than the five year average. than a year ago and 7.9% lower than the five year average. Lower
Australian Market: Monthly Update Australian Cattle Slaughter Data % Ch. vs % Ch. vs rought conditions in Australia land and Victoria expected to have 30% or 17-May-19 10-May-19 Last Wk. 18-May-18 Last Yr. Queensland show few signs of improvement lower chance of exceeding the median rain- 79,155 69,964 13.1% 78,557 0.8% and producers continue to push fall. NSW 36,722 36,732 0.0% 33,987 8.0% more cattle to market as a re- Australian exports were lower in Victoria Dsult. A recent report from ABARE noted May despite the increase in slaughter. Last 27,482 27,960 -1.7% 25,043 9.7% that water storage levels in the Murray- SA year exports for the month were especially 5,215 5,258 -0.8% 5,257 -0.8% Darling Basin, a key region for livestock pro- large so we are comparing to a very high Tasmania duction, were 34% lower than the same peri- point. Despite the decline in the availability 4,995 5,080 -1.7% 4,868 2.6% od a year ago. No rainfall is expected for of the exportable beef supply, shipments to TOTAL 153,569 144,994 5.9% 147,712 4.0% NSW, Victoria and Queensland in the next AUSTRALIAN BEEF EXPORTS TO THE UNITED STATES China continued to expand, largely at the Monthly Exports. Metric Ton. Source: DAFF + Steiner Projections for Latest Month week or so. Cattle slaughter in the four 35,000 expense of lower exports to other Asian June Est. weeks ending June 14 averaged 153,332 markets. Total beef exports to China last 30,000 head/wk, 6.2% higher than a year ago. month were 22,968 MT, 7,308 MT or 47% 25,000 Slaughter in Queensland during the reference higher than a year ago. Exports to Japan 20,000 15,000 period was up 4.3% and slaughter in NSW were down 15% and exports to S. Korea 10,000 was up 4.6% vs. year ago levels. The medium were down 8%. In addition, we saw a nota- term outlook for drought does not show 5,000 ble decline in exports to a number of smaller - much improvement, with much of Queen- Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Asian markets. Exports to Indonesia were 2016 2017 2018 2019 5-Yr Avg. 4,956 MT, 38% lower than a year Australia Weekly Cattle Slaughter, Head. Oct - Sep Base ago while exports to the Philip- AUSTRALIAN DOLLAR: 5-Yr. Avg, 2017, 2018 & 2019 Data Source: Meat & Livestock Australia. Analysis by Steiner Consulting 1.50 head pines at 1,570 MT were half what 200,000 1.45 they were last year. Shipments to 180,000 1.40 the US market175000 in May were barely 160,000 145000 1.35 higher than -0.17143a year ago and we ex- 140,000 1.30 pect June shipments will be around 71.5 120,000 1.25 -0.07742
100,000 21,000 MT, 5% lower than last DOLLAR US 1 PER DOLLARS AUSTRALIAN 1.20
80,000 year. Total Australian beef ex- 1.15 Easter, Anzac ports for June are currently pro- Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 60,000 5-YR AVG (2014-18) 2017 2018 2019 40,000 jected at around 105,000 MT, simi-
20,000 lar to May levels but 3.8% higher 5-Yr Avg. 2014-15 2015-16 2016-17 2017-18 2018-19 - than last year.
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
NEW ZEALAND DOLLAR: 5-Yr. Average, 2017, 2018 & 2019 1.60
New Zealand Market: Monthly Update 1.55
1.50 Through week 34 slaughter has been forward to February and March this year. 1.45 1.40
about 1,500 head or 0.08% higher than the Slaughter through April and May has been 1.35 previous year. Heat and lack of moisture about 10% lower than last year’s levels. 1.30
forced some of the seasonally heavy slaughter Slaughter typically falls pretty drastically in USD1 PER DOLLAR ZEALANDNEW 1.25 1.20
that takes place in May/June to be pulled late June and bottoms out in August before 1.15 New Zealand Weekly Adult Cattle Slaughter rising again into November. Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Based on Oct - Sep Marketing Year. Source: New Zealand Meat Board 5-YR AVG (2014-18) 2017 2018 2019 100,000 head New Zealand beef exports in New Zealand Fresh/Frozen Beef Exports 90,000 2015-16 Latest Data for May Units: Metric Tons 60,000 2016-17 May totaled 52,332 MT, 3% higher than 80,000 May-18 May-19 3%
70,000 2017-18 a year ago. Exports to the U.S. were 50,000
60,000 2018-19 30% less than a year ago at 18,900 MT, 40,000 50,000 while exports to China were 21,537 MT
40,000 or 92% above the volume exported a 30,000 -30% year ago. Exports to the U.S. through 92% 30,000 20,000 20,000 May were 21% less than the same peri- -7% 10,000 10,000 Christmas od last year while Exports to China are 16% -15% Plant Closures 0 some 41,380 MT or 87% higher. - US China Japan South Korea Other Total Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep May-18 27,010 11,239 1,986 1,933 8,569 50,737 May-19 18,900 21,537 2,308 1,634 7,952 52,332 Y/Y Diff. (8,110) 10,298 322 (299) (617) 1,595
Canadian Market: Monthly Update Canadian F.I. Slaughter Cattle Cows anadian cow slaughter numbers despite little growth in the calf crop during 6/8/2019 66,350 8,394 continue to drift seasonally lower, the last two years. Much of the increase in limiting the supply of lean beef fed cattle numbers these days is a result of % Ch. vs. Last Week 8.0% -2.4% available in the market. Still, the more heifers coming to market, another Ccurrent slaughter rate is relatively high by his- indicator of future herd contraction. Com- % Ch. vs. Last Year 4.0% -2.5% torical standards and, we think, will result in a bined steer/heifer slaughter during the ref- 6/1/2019 61,439 8,597 smaller beef cow herd by the end of this year. erence four week period averaged 51,485 In the four weeks ending June 8 cow slaugh- head/wk, 3.7% higher than a year ago and 6/9/2018 63,818 8,611 ter in Canada averaged 8,561 head/wk, just 15% higher than the five year average. Steer 2019 YTD 1,344,982 240,908 1% higher than the previous year but 27.6% slaughter was just 1.1% higher than a year higher than the five year average. Fed cattle ago while heifer slaughter was up 8.5% y/y 2018 YTD 1,262,338 228,140 slaughter is also running above year ago levels and 21% higher than the five year average. % Ch. 6.5% 5.6% The increase in domestic supply availability, at least in the short Source: CanFax Canada Weekly Cow Slaughter, head YTD Canadian Beef Imports from Australia 16,000 term, has resulted in fewer im- Data is through week ending June 22, 2019 vs. Same Period in 2018 ports coming into the country. 12,000 -37.4% -20.5% 2018 14,000 Total imports through June 22 10,000 2019 were reported at 74,745 MT, 19% 8,000 12,000 lower than a year ago. Imports 6,000 from Australia were just 6,847 10,000 MT, 37% lower than a year ago 4,000 2,000 and just a fraction of the quota -37.7% 8,000 available. Imports from New - Fresh/Chilled Frozen Processed Beef Fat
6,000 Zealand at 6,854 MT were down 27% and imports from the US at 5-Yr Avg. 2017 2018 2019 4,000 49,445 MT were 16% lower y/y.
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Uruguayan Fresh/Frozen Beef Exports Latest Data for May Units: Metric Tons 40,000 Uruguayan Market: Monthly Update May-18 May-19 35,000 20% Uruguayan supplies have been vola- aged 45,695 head/wk, 5.1% higher than the 30,000
25,000 tile, in part as a result of weather but also previous year and 4.8% higher than the five 54% 20,000
strong export demand. The pace of slaughter year average. Steer slaughter during this ton metric accelerated in May as producers sought to fill period averaged 23,083 head/wk, 1.4% 15,000 10,000 orders to Asia and, to a lesser extent, the EU. higher than last year and 8% higher than the -29% -9% 5,000 3% But with winter approaching producers have five year average. Cow slaughter, on the -93% - China EU Russia US Other Total significantly reduced the number of cows they other hand, averaged just 15,673 head/wk, May-18 13,698 5,320 362 3,865 2,791 26,036 are sending to market, content to hold on to 21% lower than last year and 26.3% lower May-19 21,059 3,751 24 3,518 2,877 31,229 their breeding stock. In the four weeks end- than the five year average. - ing June 15 cattle slaughter in Uruguay aver- The high rate of slaughter during May resulted in a significant increase in Uruguay Cattle Slaughter, Total Russia Weekly Slaughter in Head. Source: World Beef Report overall exports. Shipments of fresh/ 0% 60,000 Israel frozen product for the month were Other EU 2% 7% 55,000 31,229 MT, 5,193 MT or 20% higher 11%
50,000 than a year ago. Exports to China were 52 USA 38 21,059 MT, 7,361 -0.26923 MT or 54% higher 11% 45,000 2019 YTD Brazil than last year. Exports to other mar- 2% 40,000 147,622 MT kets are mostly lower, with shipments Chile 1% 35,000 to the EU down 29% and shipments to
30,000 the US down 9% from last year. In the China 5-Yr. Avg. 2018 2019 first five months of the year Uruguayan 25,000 66% exports were up 5% y/y. Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Brazil Fr/Fz. Beef Exports Brazilian Market: Monthly Update Fresh/Frozen Beef, Jan - May 2019
RUSSIA SAUDI ARABIA ISRAEL ALGERIA he discovery of a 17 year old cow China in May were 29,974 MT, 26% higher 4% 3% 2% 1% with atypical BSE is unlikely to than last year while exports to Hong Kong at ITALY CHILE 2% PHILIPPINES 7% have a material impact on Brazil 19,000 MT were 4% higher than last year. In EGYPT 2% beef exports this year. The trade the first five months of the year Brazilian beef 9% UAE suspensionT with China lasted just 10 days, not exports were up 19% compared to a year ago. IRAN 7% 7% enough to have an impact and we are not Exports to Mainland China accounted for 2019 YTD aware of other countries suspending trade. 22% of all exports and increased 16% from 569,490 OTHER CHILE Exports of fresh/frozen beef in May were the previous year. Shipments to Hong Kong HONG KONG 17% ITALY 17% PHILIPPINES 123,277 MT, 32,731 MT or 36% higher than a made up another 16.5% of exports but were UAE OTHER year ago. China and Hong Kong remain the down 15% from last year. Stricter border CHINA WORLD top markets for Brazilian beef. Shipments to controls between Hong Kong and China have 22% resulted in more product backed up in Brazil Fresh/Frozen Beef Exports Latest Data for May Units: Metric Tons storage there and negatively affected exports. US exporters have also seen a Brazilian Real Per 1 US Dollar 140,000 BRAZILIAN REAL: 5-Yr. Average, 2017, 2018 & 2019 36% significant slowdown in shipments to 4.30 120,000 Hong Kong. Some market reports 4.10 point out that China trade appears to 3.90 100,000 3.70 have slowed down a bit as traders there 3.50
80,000 look to absorb the supply they already 3.30
3.10
have secured. A recent Bloomberg DOLLAR US 1 PER REAL BRAZILIAN
metric ton metric 45% 3.12 60,000 2.90 3.32 report also noted that freezers near 0.064103 2.70
40,000 26% major ports are near full, which in the 2.50 4% short term could also negatively impact Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 20,000 14% 5-YR AVG (2014-18) 2017 2018 2019 - import flows. Some traders in China
- already may be using this as an excuse Russia Hong Kong China Egypt Other Total May-18 - 18,257 23,798 9,229 39,263 90,546 to delay shipments or renegotiate pric- May-19 6,837 19,000 29,974 10,557 56,910 123,277 es.
Argentine Market: Monthly Update Argentine Fr/Fz. Beef Exports Fresh/Frozen Beef, Jan-Apr 2019
Argentine beef exports at the start of China in April were 27,847 MT, 13,855 MT YTD Argentine Fresh/Frozen Beef Exports this year were expected to increase by 10-15% or double year ago levels. Exports to Russia Metric Ton. Data Source: Indec. Analysis by: Steiner Consulting compared to the already high levels of a year were just 1,034 MT, 61% lower than a year Italy ROW 2% 1% Netherlands ago. However, a weak currency and insatiable ago while exports to Chile at 2,526 MT were 3% Germany China demand has resulted in a big jump in 12% lower than last year. In the first four Germany 5% Italy ROW shipments even as beef production trends months of the year Argentine exports of Brazil 2% 2019 YTD lower. April exports were reported to be fresh/frozen beef were 133,819 MT, 37% Total Chile 36,845 MT, 12,165 MT or 49% higher than a higher than last year. Exports to China ac- 7% 133,819 China 70% Metric Ton year ago. All the additional supply of beef counted for 70% of all beef exports. Russia went to the Chinese market. Shipments to Beef consumer prices in Argentina 3% have escalated dramatically in recent Israel Argentine Exports of Fresh/Frozen Beef 7% Monthly Shipments. Data Source: Indec. Analysis by: Steiner Consulting months. Most recent retail price data 45,000 for the second week in May show over- 40,000 all retail beef prices were up 64% com- 35,000 pared to the previous year. Some cuts, 30,000 ROW such as rounds used for roast beef, were 25,000 up as much as 72% compared to a year 20,000 ago. By way of comparison, chicken 15,000 price inflation was 97% higher than the 10,000 YTD 68% previous year while pork prices were 5,000 Share China 52.8% higher than in May 2018. -
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Mexico, Nicaragua
Mexican Fresh, Chilled & Frozen Beef Exports eef production in Mexico contin- The latest trade data for Mexico is MT, swt Year-to-Date, 2019 vs 2018 70,000 15% ues to expand although the pace of for the month of March. Total exports of 2018 YTD 2019 YTD 60,000 growth has moderated somewhat. fresh/frozen beef were 20,760 MT, 3,481 MT 14% 50,000 Total beef production in April was or 20% higher than a year ago. Exports to 40,000 estimated at 160,165 MT, 2.3% higher than the US were 18,061 MT, 3,110 MT or 21% B 30,000 the previous year. In the first four months of higher than a year ago, while exports to Japan 20,000 the year Mexican production has averaged at 1,278 MT were 34% higher than last year. 10,000 2.1% higher than a year ago. In all of 2018 In the first three months of the year Mexican 28% 65% - N/A beef production increased by 2.9% from the beef exports have increased by almost 15% United States Japan South Korea Russia Total prior year level. Continued supply growth in from the previous year and about 88% of Central America Imports as % of Total US Beef Imports Mexico will drive exports, with exports to the those shipments have gone to the US. % of total shipments, including cooked beef US still accounting for the bulk of Mexico While Mexico also imports a fair amount of 40.0% trade. beef, in the last two years the balance of trade 35.0% Cattle prices in Mexico so far this has decidedly shifted in favor of exports. 30.0% March imports of fresh/frozen beef were month are above year ago levels. According 25.0% 10,197 MT, about half of the level of exports to SNIIM, the average live cattle price in the 20.0% first three weeks of May was 54.7 peso per kg for the month. Import volume was about 3% higher than a year ago, with the bulk of it 15.0% (approx. US$284 per 100kg or US$128.8 per 10.0% 100lb). This price is 3.6% higher than prices coming from the US. Total imports from the 2011 2012 2013 2014 2015 2016 2017 2018 2019 paid for live cattle a year ago. Wholesale meat US were 8,182 MT, 2% higher than a year ago prices are also higher. So far this month the and representing 81% of all imports. Imports average wholesale beef prices was pegged at from Canada were 985 MT, 12% higher than Mx Peso per 1 USD Exchange last year. Imports from Australia and New 76.5 peso per kg, 2.5% higher than a year ago. MEXICAN PESO: 5-Yr. Avg, 2017, 2018 & 2019 About 91% of cattle that were included in the Zealand remain minimal. For all of Q1 Mexi- 23.00 co imported just 303 MT of Australian beef 22.00 reporting came from some kind of feedlot 21.00 and no New Zealand beef. system while 9% were from grazing systems. 20.00 19.00 18.00
17.00 -0.06373
USA Monthly Beef Imports from Mexico, Nicaragua and Costa Rica DOLLAR US1 PER PESO MEXICAN 16.00 Metric Ton. Shipped Weight. USDA/FAS 15.00 14.00 25,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 5-YR AVG (2014-18) 2017 2018 2019
20,000 Mexico
15,000
10,000 Nicaragua 5,000 C. Rica -
2011 2012 2013 2014 2015 2016 2017 2018 2019
Irish Market: Monthly Update
O3 Cow Price, Ireland & EU-28, Euro per 100kg Jan Weak prices in the UK and large producers are aggressively liquidating. In the 380.0 slaughter have negatively impacted Irish short term this has kept the market well sup- 360.0 Feb cattle/beef prices in recent weeks. Total cat- plied and pressured prices lower. Uncertainty 340.0 tle slaughter in the four weeks ending June 16 about Brexit and the potential for higher tax- 320.0 Mar averaged 33,894 head/wk, 4.4% higher than es for product going to the US remains a 300.0 280.0 the previous year. Poor margins continue to major risk for Irish producers. While it is Apr drive female cattle slaughter, the biggest con- very well possible that there could be another 260.0 240.0 tributor to the increase in the number of cat- extension in the UK-EU negotiations, the Ireland EU-28 tle coming to market. Cow slaughter during uncertainty is forcing producers to scale back 220.0 2013 2014 2015 2016 2017 2018 2019 the reference period averaged 8,312 hd/wk, as margins deteriorate.
10.5% higher than a year ago while heifer Cow prices in Ireland rallied in April head Ireland Cow Slaughter, Weekly Data Jan slaughter at 9,431 hd/wk averaged 10.2% 11,000 and early May, in line with the normal sea- Feb higher than last year. The ratio of cow/heifer sonal trend but it appears the rally has run its 9,000 slaughter vs. total slaughter has averaged Mar course. Prices are heading lower once again 7,000 over 52% in the last few weeks, a sign that and at $301 euro/100kg prices are 13% lower Apr 5,000 thanJan a year ago. Cow prices in O3 Cow Price, Ireland, Euro per 100kg May 360 the UK were quoted at 295 euro 3,000 2017 2018 2019 per 100 kg, 11% lower than last Jun Feb 1,000 340 year while the EU average cow Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec carcass price was quoted at 296 Imports of Irish Beef into the US 320 Shipped Weight, MT. USDA euroMar per 100 kg, 4% lower than year ago levels. Steer prices are 300 300 also lower. The average R3 250 200 280 IrishApr steer price for the week ending June 9 was 385 euro per 150 260 100kg, 6.7% lower than a year 100 5-Yr Avg. 2017 2018 2019 ago. The average EU-28 R3 50 240 steer price was quoted at 388 0 Jul Jul Jul Jul Jul Jan Jan Jan Jan Jan Oct Oct Oct Oct Oct Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec euro per 100kg, 6.3% lower than Apr Apr Apr Apr Apr last year. 2015 2016 2017 2018 2019
USA Quota Entries through Week Ending June 17 Source: US Customs Cold Storage Stocks 500,000
THOUSAND POUNDS BONELESS BEEF, COLD STORAGE STOCKS 400,000 490,000
300,000 470,000
BONELESS450,000 BEEF, COLD STORAGE STOCKS, THOUSAND POUNDS, END OF MONTH INVENTORIES 200,000
430,000 100,000
410,000 0 Australia New Zealand Uruguay Other 390,000 2018 YTD 94,851,446 108,948,484 8,357,927 31,480,826 2019 YTD 104,336,984 81,905,401 10,071,601 31,594,857 370,000 Y/Y % 10% -25% 21% 0% 350,000 Quota 418,214,000 213,402,000 20,000,000 64,805,000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
% cleared 25% 38% 50% 49% 2014-18 Avg. 2018 2019
YTD Imported Fresh/Frz Beef Passed for Entry in the US THOUSAND POUNDS BEEF CUTS, COLD STORAGE STOCKS week 24 6/16/2018 6/15/2019 50,000 Argentina - 87 Australia 97,522 110,106 12,584 12.9% 45,000 BEEF CUTS, COLD STORAGE STOCKS, THOUSAND POUNDS, END OF MONTH INVENTORIES Brazil - - - Canada 120,628 139,995 19,367 16.1% 40,000 Chile - - - Costa Rica 3,850 3,551 (299) -7.8% 35,000 France - - - Honduras 944 516 (428) -45.3% 30,000 Ireland 1,156 2,237 1,081 93.5% 25,000 Japan 246 264 18 7.3% JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Mexico 89,556 105,825 16,269 18.2% 2014-18 Avg. 2018 2019 Netherlands - - - New Zealand 107,274 82,334 (24,940) -23.2% Nicaragua 24,966 27,904 2,938 11.8% Spain - - - Federally Inspected Cow Slaughter Uruguay 15,830 20,071 4,241 26.8% Total 461,970 492,891 30,921 6.7% Total Dairy Beef Source: AMS - USDA 5/4/2019 120.0 57.1 62.9 WEEKLY COW & BULL SLAUGHTER. '000 HEAD 5/11/2019 119.8 57.8 62.0 Source: USDA-AMS 150 5/18/2019 120.4 58.2 62.2 5-Yr Avg. 2017 2018 2019 5/25/2019 116.2 56.4 59.7 140 6/1/2019 106.7 53.3 53.3
130 6/8/2019 120.2 55.4 64.8
120 6-wk Average 117.2 56.4 60.8 % ch. from year 110 ago same period 2.6% 3.9% 1.5%
100 2019 (Jan-Apr) 2,147 1,148 998
2018 (Jan-Apr) 2,052 1,086 966 90
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec % Ch. 4.6% 5.7% 3.4%