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
Negotiated cash cattle were $2.70 lower last week and auction markets called fed cattle $1 lower to open this week. Estimated harvest for the holiday shortened week was 542,000 head, 69,000 fewer than the previous week and 17,000 fewer than Labor Day week last year. Futures markets were sharply lower at the end of last week.
Weakness in the stock market and the confirmed anthrax outbreak in Wyoming were said to impact the cattle market. It is reported the outbreak killed between 50 and 60 cattle in a localized region. Wyoming State Veterinarian Dr. Hallie Hasel says the investigation is ongoing. Beef demand will be the largest factor impacting markets with summer coming to an end.
The Choice beef cutout value showed a modest gain of 17 cents last week averaging $310.80. Packer margins improved for the week ending August 31. According to the Sterling Profit Tracker, packers saw an average profit of $10.43 per head. That compares to an average loss of $135.76 a month ago. Cattle feeders saw their profit per head drop from $313.40 four weeks ago to $38.46. July beef exports totaled 110,419 metric tons, up 7% from a year ago and the second largest total of 2024.
Export value climbed 12% to $910.9 million, also the second highest total this year. For January through July, beef export value increased 6% from a year ago, despite a 2% decline in volume. July beef exports to Mexico were the largest this year at 21,081 metric tons, up 19% from a year ago. Beef export value equated to $418.43 per head of fed cattle harvested in July, up 4% from a year ago. Exports accounted for 14% of total July beef production.
Cattle Prices
High Choice and Prime beef breed steers were mostly lower, bringing $180-$185/cwt with some packages reported to $187. Choice steers and heifers ranged from $163-$179/cwt. Holstein steers were steady to weak. High grading steers brought $163-$175/cwt with some fancy steers to $178/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-$178 with a few to $182/cwt.
Cows were mixed. Most of the cows brought $89-$119/cwt with some to the low $130s/cwt. Lower yielding cows brought $75-$88. Doubtful health and thin cows brought up to $75/cwt.
Dairy breed bull calves were steady, selling from $200-$400/head with some heavier, well-managed calves selling to $650/head.Dairy breed heifer calves brought $100-300 with some to $500/head. Beef and Beef Cross calves were lower, selling to $900/head.
