The following article was 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 prices continue to retreat from the highs seen this summer. Negotiated trade was a full $5/cwt lower last week, although there was some regional variation. Due to extremely tight supplies in the Southern Plains, cattle in the south are now trading equal to or, in some cases, at a premium to those in the Corn Belt.
Last week’s harvest of 555,000 head was 3,000 more than the previous week and 62,000 fewer than last year. This week’s early estimates are for a harvest around 540,000. Packer margins continue to erode with the Choice cutout value falling $12.84 last week to average $376.60.
Last week’s USDA Monthly Livestock Slaughter report detailed August harvest at 2.29 million head, making it 14% less than a year ago. August did include one less workday than last year, accounting for part of the difference. January through August harvest is 6.9% less than 2024. Cow harvest is 12.8% lower year-to-date. Beef cow slaughter is down 18.4% for the first eight months of the year, with dairy cow harvest down about 6.8%.
The decrease in non-fed harvest has pushed the price of 90% lean trim to over $4.31/pound and caused increases in the retail price of ground beef.
Prices
Top quality steers and heifers were $2-$5 lower, bringing $219-$238/cwt with a few to $240/cwt. Choice steers and heifers ranged from $200-$219/cwt. High grading Holstein steers were steady to $2 lower at $192-$218/cwt, with some higher. Lower grading steers brought $168-$191/cwt. Silage fed, under finished, or heavy dairy breed steers brought $90-$167/cwt. Dairy Beef cross steers were steady to lower, bringing $175-$230.
Cows were mixed. Most cows brought $110- $150/cwt with a few selling into the low $160s. Lower yielding cows brought $65-110/cwt. Doubtful health and thin cows brought up to $65/cwt.
Dairy breed bull calves were higher, selling from $700-$1,275/head. Dairy breed heifer calves brought $300-$700/head, with some higher. Beef and Beef Cross calves were higher, from $700 to $1,790/head. Light and lower quality calves sold up to $60.
