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USDA's February 23 estimate put the hide and offal value of a typical slaughter steer at $9.71 per live hundredweight, the highest since May 2018. Japan and Mexico are the leading buyers of US variety meats, importing $369 million and $228 million in 2020.
Higher by-product values add to the carcass value of fed cattle, supporting the cattle price floor. Variety meat exports depend on Asian and Mexican demand.
beefmagazine.comMar 3, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
