Cattle on Feed near pre-report expectations | Weekly Livestock Market Update
This week, Meghan Grebner and livestock economist Scott Brown talk Livestock Slaughter and Cattle on Feed numbers.
This week in the markets:
Live fed cattle prices are $0.70 higher on the week, and feeder cattle markets were $2.00 to $7.00 higher this week. October live cattle were up $4.95 on the week, and October feeder cattle were up $4.55 on the week. Choice box beef was $5.30 lower this week. Cash hogs were $0.75 higher this week. October lean hog futures were up $3.90 on the week. Pork cutout values were up $0.20 this week.
Weekly Slaughter:
At the end of the week, cattle slaughter was 610,000 head, down 10,000 on the week and down 17,000 for the year. Hog slaughter was 2.506 million head, down 59,000 from the previous week and down 41,000 on the year. Year-to-date cattle slaughter is down 4.0% relative to last year, and hog slaughter is up 1.2%.
Livestock Slaughter:
August 2024 beef production totaled 2.3 billion pounds, down 3.2% relative to last year. Year-to-date beef production is down 0.6%. August beef cow slaughter was down 22% relative to last year. Cattle dressed weights were 29 pounds above one year ago. August 2024 pork production was 2.3 billion pounds, down 0.3% relative to last year. Year-to-date pork production is 2.1% above the same period in 2023.
Cattle on Feed:
The latest Cattle on Feed report came in very near pre-report expectations. Cattle on Feed September 1 was 100.6% of one year ago, and August placements were 98.6% of one year ago. Both of those estimated were within 0.1% of the pre-report midpoints.
Next week's reports:
» Quarterly Hogs
» Pigs and Cold Storage
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