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 And Beef
Cash cattle were higher last week, mixed to open this week and firmed by Wednesday. Wholesale prices have increased, and while packer margins have improved, they are still in the red. Asking prices remained steady to higher, and most negotiated trade early this week was limited to the South. Marketing and beef production will be hampered with both Christmas and New Year’s Day falling mid-week this year. Holiday meat needs will be in the pipeline by the end of this week, so the disruption will impact early 2025 supplies and beef demand typically dips after the first of the year.
The Choice beef cutout was 36 cents lower last week, averaging $310.41 but showed strong gains both last Friday and this Monday. Last week’s estimated harvest was 614,000 head and that is 78,000 more than the previous week and 24,000 fewer than a year ago. October beef exports totaled 105,269 metric tons – 1% higher than a year ago – while value increased 3% to $860.4 million. Shipments to Mexico continued their impressive pace in October as they were 7% greater than a year ago, while exports rebounded to South Korea and China/Hong Kong. For January through October, beef export value was 4% above last year at $8.68 billion, despite a 2% decline in volume. Beef export value equated to $380.98 per head of fed cattle harvested in October, down 2% from a year ago.
High Choice And Prime Beef
Fed cattle were mostly steady to $2 higher. High Choice and Prime beef breed steers brought $182-$192/cwt with some packages to $197/cwt and up. Choice steers and heifers ranged from $167-$181/cwt. Holstein steers were steady to $1 higher. High grading steers brought $163-$172, with some higher. Lower grading steers brought $132-$162. Silage fed, under finished, or heavy dairy breed steers brought $75-$132/cwt. Dairy x Beef steers were steady, bringing $139-$182 with a few to $188/cwt. Cows were mixed. Most of the cows brought $92-$110/cwt with some to the mid $120s/cwt. Lower yielding cows brought $70-$93 while doubtful health and thin cows brought up to $70 cwt. Dairy breed bull calves were steady, selling from $200-$400/head with some heavier, well-managed calves selling to $750/head. Dairy breed heifer calves were steady bringing $200-400/head with some selling higher. Beef and Beef Cross calves were steady, selling to $1,000/head. Light and lower quality calves sold up to $15.
