Beef imports up more than 23% on the year | Weekly Livestock Market Update
Brownfield's Meghan Grebner and livestock economist Scott Brown talk beef imports being up more than 23% on the year.
This week in the markets:
Live fed cattle prices are $2.60 lower on the week, and feeder cattle markets were steady to $5.00 higher this week. December live cattle were down $2.30 on the week, and January feeder cattle were down $1.90 on the week. Choice box beef was $6.10 lower this week. Cash hogs were $0.75 lower this week. December lean hog futures were down $3.40 on the week. Pork cutout values were $0.80 lower this week.
Weekly Slaughter:
At the end of the week, cattle slaughter was 619,000 head, up 4,000 on the week but down 4,000 for the year. Hog slaughter was 2.605 million head, down 48,000 from the previous week but up 27,000 on the year. Year-to-date cattle slaughter is down 3.7% relative to last year, and hog slaughter is up 1.0%.
Monthly Trade Data:
September 2024 beef exports totaled 240 million pounds, up 3.6% relative to one year ago. Japan and South Korea showed higher exports relative to last year. September 2024 beef imports totaled 385 million pounds, up 23% over last year. U.S. pork exports were 549 million pounds in September, up 7.2% over last year. China and other destinations were the positive drivers this month.
Consumer Sentiment:
The November Consumer Sentiment Index climbed 3.5% relative to last month and 19.1% relative to last year. Consumer expectations were up 38.2% over last year’s level.
WASDE:
The November WASDE increased all 2024 livestock prices this month relative to the October report. USDA increased 2025 beef production by 355 million pounds this month while lowering 2025 pork production by 115 million pounds. Feed costs remain unchanged in this month’s WASDE report.
Next week's reports:
» Retail Prices
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