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
Cash cattle were as much as $5 higher last week and were steady to weak this week. Futures prices for both live and feeder cattle moved higher until the announcement last Thursday that the federal government had a plan to lower beef prices. The board closed sharply lower Friday and negotiated country trade ground to a halt. Futures recovered on Monday when no details were released over the weekend, although the market remains nervous. The plan involves importing beef from Argentina, and that’s garnering its share of both proponents and critics. Wholesale beef prices were higher last week, even with a larger weekly harvest. The Choice beef cutout value was $366.77 last week, $1.20 higher than the previous Friday. The harvest estimate for the week was larger than expected at 567,000 head, which was 20,000 more than the week prior and 40,000 fewer than a year ago. Total cattle harvest through September was 6.2% lower than last year. Breaking the data down further, fed steer harvest was 4.4% lower with fed heifer harvest down 4.8%. It is the non-fed harvest that is having the largest impact, with beef cow harvest 17.7% lower than last year and dairy cow harvest 5.5% lower.
Top Quality
Top quality steers and heifers were steady to weak this week, bringing $219-$240/cwt with a few to $245/cwt. Mixed Choice and Select steers and heifers ranged from $200-$218/cwt. High grading Holstein steers were fully steady at $194-$220/cwt, with some higher. Lower grading steers brought $170-$193/cwt. Silage fed, under finished, or heavy dairy breed steers brought $90-$170/cwt. Dairy Beef cross steers were steady to weak, bringing $179-$230. Cows were higher. Most cows brought $115-$150/cwt with a few selling into the mid $160s. Lower yielding cows brought $65-$115/cwt. Doubtful health and thin cows brought up to $65/cwt. Dairy breed bull calves were higher, selling from $700-$1,450/head. Dairy breed heifer calves brought $300-$700/head, with some higher. Beef and Beef Cross calves were higher, from $700 to $1,800, with some as high as $2,000/head. Light and lower quality calves sold up to $60. New crop lambs were lower, selling from $185-$220/cwt.
