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
Demand for high-grading, high-yielding cattle was strong at area auction markets. USDA’s latest Cattle on Feed report showed feedlot inventory 1% lower than last January. Placements fell outside industry estimates at 3% below last December, in part attributed to the halt on feeder cattle imported from Mexico. Steers and steer calves made up 61% of the 11.8 million head on feed, with heifer inventory 3% lower than last year. USDA also released a Monthly Slaughter report. While cattle harvest was 2% lower in December, beef production was slightly higher as the average live weight of cattle was 30 pounds heavier than a year ago. Beef cow harvest in December was 26% less than a year ago. The January Cattle Inventory report is expected late this week. Many analysts have calculated that 2024 marketings totaled 10% of the beginning inventory, and if accurate, this would represent a 1% reduction in the cow herd. Last week’s harvest estimate was 599,000 head, 4,000 fewer than the previous week and 16,000 fewer than a year ago. Steers made up 51% of the total, and heifers 30.2%. The Choice beef cutout value was $2.29 lower, averaging $331.22.
High Choice and Prime Beef
High Choice and Prime beef breed steers brought $195-$210/cwt with some packages selling from $211-$222/cwt, making them $2-$3 higher. Choice steers and heifers ranged from $188-$194/cwt. Holstein steers were higher. High-grading steers brought $172-$184 with reports of some packages topping $190/cwt. Lower-grading steers brought $147-$172. Silage-fed, under-finished or heavy dairy breed steers brought $80-$146/cwt. Dairy x Beef steers were higher, bringing $155-$200 with some to $210/cwt. Cows were higher. Most of the cows brought $105-$123/cwt with some to the mid $130s and a few beef breed cows higher. Lower-yielding cows brought $70-$104/cwt. Doubtful-health and thin cows brought up to $70/cwt. Dairy breed bull calves were higher, selling from $200-$500/head with some heavier, well-managed calves selling to $850/head. Dairy breed heifer calves were steady, bringing $200-500/head. Beef and Beef Cross calves were steady, selling to $1,050/head. Light and lower quality calves sold up to $15.