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.
USDA’s latest Cattle on Feed report showed Oct. 1 feedlot inventory unchanged from a year ago, with September placements 2 percent lower than last year. Heifers made up 40 percent of feedlot inventories — an indication that widespread herd rebuilding has not begun.
The Monthly Slaughter Report released last week indicated heifers made up 45 percent of fed cattle harvest in September. Beef production for the month outpaced 2023 by 2.6 percent, with 1 percent fewer cattle being harvested. Year-to-date beef production is just .03 percent lower than last year, a result of the heavier cattle weights. September’s average live weight was 44 pounds per head heavier than September 2023. Beef cow harvest was 18.5 percent lower than a year ago, with dairy cow harvest lower by 13 percent.
Active buying by packers during the past two weeks pushed the estimated harvest to 623,000 head during the week ending Saturday, October 26. The total is 15,000 head greater than the week prior and 12,000 fewer than a year ago.
Wholesale beef prices were higher with the Choice beef cutout averaging $322.33 last week, a gain of $4.49. Cutout prices were moving lower in the middle of this week, however. Cash cattle were $2.45 higher last week, with the Five-Area weighted average for beef breed steers at $190.06.
The state Department of Agriculture, Trade and Consumer Protection’s Bureau of Meat and Poultry Businesses will hold a Quarterly Office Hours on Nov. 15 at 9 a.m. Dr. Kurt Vogel of UW–River Falls will present information about the Humane Handling Institute and discuss humane handling and restraint.
