Prepared and written by Jeff Swenson, DATCP Livestock and Meat Specialist. The Market Update draws information from several sources, including trade publications, radio broadcasts, agricultural news services, individuals involved in the industry as well as USDA NASS and AMS reports.
Cattle On Feed
Last week’s USDA Cattle on Feed report offered little in the way of surprises with numbers near pre-report estimates. Cattle in feedlots of 1,000 head and more totaled 11.2 million head on September 1. The inventory was .06% more than a year ago. In August 1.98 million head were placed in feedlots, 1.4% less than last year. USDA also released its August Monthly Slaughter report last week. Beef production for the month was 3.2% less than a year ago. It should be noted there was one less weekday in the month compared to last year. Year-to-date beef production is just .06% less than 2023. The slower harvest pace is causing cattle to stay in feedlots longer, resulting in carcass weights 29 pounds heavier than last year. Beef cow harvest is 22% below last year. The cash market was called 70 cents higher last week, although there was little negotiated trade activity until late Friday after the USDA had released their report. Those late sales were $1 to $3 higher. Auction markets and stockyards were reporting higher fed-cattle prices early this week. The Choice beef cutout value averaged $301.92 last week which was a decline of $5.32. Packers are again operating at a loss. Last week’s estimated harvest was 610,000 head, 10,000 fewer than the previous week and 17,000 fewer than a year ago. Feeder cattle prices were higher throughout the country last week after a sluggish start to the early fall sale season.
High Choice And Prime Beef
High Choice and Prime beef breed steers were mostly steady to $1 higher, bringing $180-$188/cwt with some packages reported from $189-$190/cwt. Choice steers and heifers ranged from $163-$180/cwt. Holstein steers were steady. High grading steers brought $163-$175/cwt. Lower grading steers brought $130-$163. Silage fed, under finished or heavy dairy breed steers brought $75-$130/cwt. Dairy x Beef steers were steady, bringing $138-$180 with a few to $186/cwt. Cows were mixed. Most of the cows brought $101-$118/cwt with some to the mid $130s/cwt. Lower yielding cows brought $75-$89, with doubtful health and thin cows bringing up to $75/cwt. Dairy breed bull calves were mostly steady, selling from $200-$400/head with some heavier, well-managed calves selling to $675/head. Diary breed heifer calves brought $100-300 with some to $500/head. Beef and Beef Cross calves were mostly steady, selling to $975/head. Light and lower quality calves sold up to $15.
