Beef, Veal and Lamb News for 3-18-10

Beef output last week rose .3% but was 3.3% less than the prior year. Cattle feedlots are muddy and corn feed quality has been poor at times. Both factors are slowing cattle weight gain. Cattle slaughter weights as of late have been trending roughly 2% below a year ago. Lighter cattle weights are bearish for beef production and bullish for beef prices. Middle meat beef demand is reported to be increasing for the spring grilling season. January total (27%) and Oceania (44%) US beef imports were both significantly less than last year which is bullish for lean beef trimming prices.