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 much-anticipated January 1 Cattle Inventory report showed the U.S. cattle herd 1% lower than a year ago. Beef cows that have calved totaled 27.9 million head, 1% lower than January 1, 2023. Milk cow inventory was slightly higher. The number of beef heifers kept for replacement was 1% lower at 4.67 million head. Wisconsin led the nation in beef cow inventory growth by percentage. Wisconsin’s beef cow herd grew by 15,000 head to 275,000, an increase of 6%. It should be noted that the 1% growth in Texas and Oklahoma represents a much larger increase by head. The number of beef heifers kept for replacement in Wisconsin was 16% higher than a year ago at 65,000 head. Wisconsin’s milk cow inventory was 5,000 head fewer than last year. There were 640,000 cattle on feed in Wisconsin on January 1, an increase of 2%.
Negotiated bids were higher last week with another week of strong demand for quality fed cattle at area auction markets. The estimated weekly harvest of 600,000 head was 1,000 greater than the previous week and 32,000 fewer than last year. Wholesale beef prices showed some weakness with the Choice beef cutout averaging $329.65, a decrease of $1.58.
High Choice and Prime Beef
Fed cattle markets were mostly steady. High Choice and Prime beef breed steers brought $195-$210/cwt with some packages selling from $211-$222/cwt. Choice steers and heifers ranged from $188-$194/cwt. Holstein steers were steady although without the extreme tops of the past two weeks. High grading steers brought $172-$184 with reports of some to $186/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 steady, bringing $155-$200 with some higher.
Cows were mostly steady. Most of the cows brought $103-$125/cwt with some to the mid $130s and a few beef breed cows higher. Lower yielding cows brought $70-$103/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 $875/head. Dairy breed heifer calves were steady, bringing $200-500/head. Beef and Beef Cross calves were steady, selling to $1,080/head. Light and lower quality calves sold up to $15.
