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 And Beef
Cattle and beef prices were higher last week. It is reported market-ready cattle were in tighter supply. Show lists are shorter this week although packers will be buying for holiday-shortened weeks. The Five Area Weekly Accumulated Average Price report showed beef steer prices $3.40/cwt higher last week and although sales were slow to develop this week, the sales reported were $1 higher. Wholesale prices increased, likely due to the lower production during Thanksgiving week and retailers looking to fill display cases leading up to holidays.
The Choice beef cutout averaged $313.75 last week, $3.34 higher than the week prior. It is likely the cutout will struggle to maintain that level heading into 2025 as demand tends to slacken after New Year’s Day. The average retail price of beef in November was $8.32/pound, making it 2.7% higher than October and 3% higher than November 2023. Last week’s estimated harvest was 609,000 head, 5,000 fewer than the previous week and 38,000 fewer than the same week last year. USDA lowered its 2025 beef production projection by 615 million pounds in the latest World Supply and Demand Estimates (WASDE) report and raised the expected average fed steer price $3/cwt to $191. The adjustments are based largely on the stoppage of Mexican feeder cattle imports to the United States so it should be noted the estimates could be adjusted if the ban is lifted.
High Choice And Prime
Fed cattle were mostly steady to $2 higher. High Choice and Prime beef breed steers brought $184-$194/cwt with some packages to $198/cwt and up. Choice steers and heifers ranged from $170-$184/cwt. Holstein steers were $1 to $2 higher. High grading steers brought $165-$174 with reports of some packages bringing $175-$177. Lower grading steers brought $134-$164. Silage-fed, under-finished or heavy dairy breed steers brought $75-$133/cwt. Dairy x Beef steers were steady and strong, bringing $139-$182 with a few to $188/cwt. Cows were mostly $2 lower. Most of the cows brought $87-$108/cwt with some to $112. Lower yielding cows brought $68-$86. Doubtful health and thin cows brought up to $68/cwt. Dairy breed bull calves were steady, selling from $200-$400/head with some heavier, well-managed calves selling to $750/head. Dairy breed heifer calves were steady, bringing $200-400/head with some selling higher. Beef and Beef Cross calves were steady and strong, selling to $1,000/head. Light and lower quality calves sold up to $15.