Daily Livestock Report, 4-29-20: COVID-19 livestock slaughter levels and by-product values

Preliminary data on U.S. Federally Inspected (FI) cattle slaughter put last week at 469,000 head. That was a decline of 33,000 head (-7%) week-over-week, a drop of 191,000 animals (-29%) from five weeks earlier, and compared to a year ago -173,000 head (-27%). Last week, FI hog slaughter fell by 253,000 head (-11%) compared to the prior week, was down 804,000 had (-29%) from five weeks ago, and dropped 352,000 head (-15%) year-over-year. Those harvest declines translated into higher cutout values (wholesale meat prices on a carcass equivalent basis) and reductions in animal prices.During recent weeks, non-meat items (hides, liver, tallow, etc.), which are often referred to as by-products produced by livestock, have been on some different paths.