Cattle Market Reports and Analysis
Lee Schulz and Chip Flory discuss current supply and demand in the beef and pork industries and what’s ahead.
Key Asian markets and Mexico fuel strong month for beef exports and record value for Mexico headlines robust month for pork exports.
Lawmakers sent a letter to Ag Secretary Tom Vilsack, urging him to reverse the U.S. Department of Agriculture’s (USDA) decision to cancel or discontinue several National Agricultural Statistics Service reports.
Cattle and hog feeders are benefitting from dramatically lower grain and feed costs this year while live animal sale prices are higher. Profit margins for both species have doubled in the past month.
Cattle feeding margins fell deeper into the red while packer losses doubled from the prior week. Pork producer margins have now printed red every week for the past year.
Although August exports of U.S. pork were steady year-over-year, beef exports were well below the large totals of August 2022, USMEF reports. Pork exports were led by Mexico and beef exports showed improvement over July.
U.S. pork exports wrapped up an excellent first half of 2023 with another strong performance in June. Although numbers are below the record pace established in 2022, June beef exports topped $900 million in value.
Profit margins for cattle sold for slaughter last week declined $55 per head, according to the Sterling Profit Tracker.
Cattle feeding margins improved $16 per head last week as cash prices inched higher less than $1 per cwt.
Cattle feeding margins declined by $80 per head last week as cash prices slumped $1 to $2 per cwt.
Cattle feeding margins improved $43 per head last week as cash prices gained nearly $2 per cwt.
Cattle feeding margins are rapidly declining as cash cattle prices retreat from spring highs
Beef packers put away the red ink last week as they turned modest profits on every animal processed. Feedyard margins, however, slipped a little further away from positive.
Cash cattle prices dipped nearly 50 cents per cwt.
Whether you’re cattle feeder or packer, ledger sheets are full of red ink.
Cattle feeding margins declined $45 per head last week, leaving average per head losses at more than $77.
Cattle feeding margins improved nearly $25 per head last week, but average per head losses remain more than $32.
The pain eased somewhat for cattle feeders last week, but losses remain more than $170 per head.
It was another ugly week for cattle feeders.
Cattle feeders added a little powder and lipstick to closeouts this week, but the ugly continues to shine through.
Cattle feeding margins took another turn south last week after a nearly $4 per cwt. decline in fed cattle prices.
Cattle feeding margins took another tumble last week after a $1 per cwt. decline in fed cattle prices.
Cattle feeding margins declined nearly $53 per head last week, leaving average losses at $56 per head.
The financial pain of feeding cattle eased again last week, but losses remain more than $125 per head.
The pain eased somewhat for cattle feeders last week, but losses remain more than $97 per head.
Last week saw dramatic improvement in cattle feeding margins, yet triple-digit losses remain.
A $6 per head decline in cattle feeding margins is tolerable, unless you were already losing $112.