Usda feeder cattle prices8/10/2023 “Together these actions will be used to guide potential rulemaking on animal-raising claims,” the department said. The results will determine whether FSIS should require lab testing to make the claim.įSIS will also issue a revised industry guideline to recommend companies strengthen the documentation submitted to substantiate animal-raising claims. USDA will conduct a sampling project to assess antibiotic residues in cattle destined for the “raised without antibiotics” market. The Food Safety and Inspection Service has received much stakeholder input asking the agency to reevaluate its oversight of claims, such as “grass-fed,” “free-range” and “no antibiotics ever.” That compares with market forecasts for 101.7. The 20 trade projections are unchanged from last month. The 20 cattle price forecasts are raised on firm demand. The amount of cattle placed on feed during May was 105.0 of the May 2022 total. Higher anticipated feeder cattle placements in third-quarter 2023 are expected to raise fed cattle marketings in early 2024, which minimally raises the beef production forecast next year to 24.8 billion pounds. “Consumers should be able to trust that the label claims they see on products bearing the USDA mark of inspection are truthful and accurate,” said Agriculture Secretary Tom Vilsack in a statement. After the close, USDA said that the number of cattle on feed as of June 1 stood at 97.0 of a year earlier. Actual Ending ValueFeeder Cattle - The weighted average price of feeder cattle as calculated by the CME for the Cash-Settled Commodity Index Prices, and reported as the CME Feeder Cattle Reported Index, multiplied by the Price Adjustment Factor specified in section 3 for the type of feeder cattle. Source: USDA AMS Livestock, Poultry & Grain Market News. USDA said it is working to strengthen the substantiation of animal-raising claims, protecting consumers from false and misleading labels. Prices are reported on an FOB basis, unless otherwise noted.
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