April feeder cattle jump more than $6 this week | Weekly Livestock Market Update
Meghan Grebner and Charley Martinez talk Supply and Demand and preview next week’s Cattle on Feed report.
Market highlights:
Live cattle prices closed $207.57/cwt which is $3.57 down from last week. April live cattle prices ($202.25) was down 38 cents compared to a week ago, and April feeder cattle future prices ($285.50) were up $6.07 compared to last week. Choice box beef was at $334.22 end of this week, which is down 1% from last week. Select box beef was at $313.96 end of this week, which is down 2% from last week. Pork Cutout was $91.96, which is down 4% from last week. National Base Hog Carcass was up to $85.79, which is 1% lower than last week. April lean hog futures close at $85.50 which is down 2% ($1.88) from a week ago.
Weekly Slaughter:
Cattle slaughter for the week is at 564,000, down 27,000 on the week and down nearly 34,000 on the year. Year-to-date cattle slaughter is down 5.4%. Hog slaughter for the week is at 2.492 million head, down 22,000 on the year, and up about 10,000 on the year. Year-to-date hog slaughter is down 2.9%
Reports:
WASDE Report:
For 2025, total red meat and poultry production was lowered. Pork production is lowered on reduced slaughter and weights. The current outlook for hog slaughter in 2025 includes lower pig crops than previously reported for 2024 and indications of lower farrowings through much of 2025. Beef production is raised based on heavier dressed weights and higher cow and bull slaughter, while there is lower steer and heifer slaughter volume.
Beef exports are lowered for 2025 based on recent trade data, as well as newly imposed tariffs and non-tariff barriers faced by U.S. beef exports to China. Beef imports are lowered based on higher tariff rates for foreign suppliers for the remainder of the year. Pork exports are lowered from the previous month due to the latest trade data, increased tariff rates for U.S. pork shipments to China, and price competition from other major exporting countries. Broiler exports are lowered on less competitive U.S. prices during the second half of the year.
Cattle prices are raised on reported data through the first quarter and expected robust demand for the remainder of the year. Hog prices are lowered, with slightly higher reported first-quarter prices more than offset by weaker export demand for the remainder of the year.
Meat Price Spreads:
Retail Pork went from $4.83/lb (February) to $4.95/lb (March). Retail Choice Beef went from $8.63/lb (February) to $8.74/lb (March)
Cattle on Feed Preview:
We will get heifer numbers in the next report which will be helpful for herd demographic discussions. Additionally, we will get a great snap shot of inventories and placements.
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