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
The 5-Area Weekly Average steer price was $2 lower last week, ending what had been 11 consecutive weeks of higher prices. A pullback was all but inevitable given packer losses and February being among the slowest months for beef demand. Headlines played a role as well, as lower futures prices weighed on the cash market.
Live Cattle futures were sharply lower last Monday, with the announcement of the U.S. levying tariffs on imports from Canada and Mexico resulting in retaliatory tariffs being announced on U.S. exports. News of 30-day postponement did little to improve futures prices until mid-week, but by Thursday reports of a new HPAI variant found in multiple dairy herds in Nevada turned markets lower again.
The Choice beef cutout value was $2.86 lower last week, averaging $326.78. Estimated harvest last week was 584,000 head, 16,000 fewer than the week before and 33,000 fewer than a year ago. Even with fewer cattle harvested, beef production was estimated to be 510.6 million pounds compared to 510.3 million pounds the same week last year.
Beef exports in 2024 were 0.5% lower than 2023. Japan and South Korea were leading customers of U.S. beef, each accounting for 21% of all beef exported in 2024, while 16% headed to China and 11% to Mexico. Beef export value per head of fed cattle harvested equated to $415.08 in 2024, 5% higher than 2023.
Cattle Prices
Fed cattle markets were lower. High Choice and Prime beef breed steers brought $193-$208/cwt with some packages selling from $209-$219/cwt. Choice steers and heifers ranged from $185-$192/cwt. Holstein steers were steady. High grading steers brought $172-$184 with reports of some to $186/cwt and some higher. Lower grading steers brought $147-$172. Silage-fed, under-finished or heavy dairy breed steers brought $80-$146/cwt. Dairy x Beef steers were steady, bringing $155-$200 with some higher.
Cows were mostly steady. Most of the cows brought $100-$126/cwt with some to the mid $130s and a few beef breed cows higher. Lower yielding cows brought $70-$99/cwt. Doubtful health and thin cows brought up to $70/cwt. Dairy breed bull calves were steady, 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 $1,080/head with some topping $1,100. Light and lower quality calves sold up to $15.
