Heifers total 40% of cattle on feed inventory | Weekly Livestock Market Update
Brownfield's Meghan Grebner and livestock economist Scott Brown recap Livestock Slaughter, Cold Storage, and Cattle on Feed numbers in this episode of Weekly Livestock Market Update.
This week in the markets:
» Live fed cattle prices are $2.45 higher on the week, and feeder cattle markets were $1.00 to $4.00 higher this week.
» December live cattle were up $1.90 on the week, and November feeder cattle were up $1.40 on the week.
» Choice box beef was $4.50 higher this week.
» Cash hogs were $1.45 higher this week.
» December lean hog futures were up $1.75 on the week.
» Pork cutout values were $2.75 higher this week.
Weekly Slaughter:
At the end of the week, cattle slaughter was 623,000 head, up 15,000 on the week but down 12,000 for the year. Hog slaughter was 2.593 million head, down 9,000 from the previous week and down 18,000 on the year. Year-to-date cattle slaughter is down 3.8% relative to last year, and hog slaughter is up 1.0%.
Livestock Slaughter:
In September 2024, beef production totaled 2.2 billion pounds, up 2.6% from last year. Year-to-date 2024 beef production is down only 0.3% relative to the same period last year. Beef cow slaughter is down 18.5% in September 2024 relative to September 2023.
Cold Storage:
September 2024 ending beef stocks totaled 414 million pounds, down 1.7% relative to last year. Pork ending stocks were 460 million pounds, which is a little changed from last year. Beef, pork, chicken, and turkey total stocks are down 2.8% relative to last year.
Cattle on Feed:
Cattle on feed, October 1, was unchanged today relative to last year. Cattle placements in September were 98.1% of one year ago, slightly below the pre-report estimate. Heifers on feed totaled 40% of total cattle on feed inventory, suggesting no beef cow expansion through heifer retention.
Next week's reports:
» Restaurant Performance Index
» Jobs Report
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