October placements up 5% on the year | Weekly Livestock Market Update

Brownfield Ag News

In this episode of Weekly Livestock Market Update, Brownfield's 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 $0.80 higher on the week, and feeder cattle markets were $2.00 to $6.00 higher this week. December live cattle were up $3.80 on the week, and January feeder cattle were up $7.50 on the week. Choice box beef was $1.20 higher this week. Cash hogs were $2.05 lower this week. December lean hog futures were up $2.25 on the week. Pork cutout values were $3.30 lower this week on primarily weaker bellies.

Weekly Slaughter:

At the end of the week, cattle slaughter was 631,000 head, up 25,000 on the week and up 97,000 for the year. Hog slaughter was 2.565 million head, down 73,000 from the previous week but up 344,000 on the year. Year-to-date cattle slaughter is down 3.3% relative to last year, and hog slaughter is up 1.2%.

Livestock Slaughter:

October 2024 beef production totaled slightly more than 2.5 billion pounds, up 5.4% relative to last year. Year-to-date beef production exceeded the same period last year by 0.3%. Beef cow slaughter was 21% lower in October 2024 compared to October 2023. Cattle dressed weights were 868 pounds in October, 4.2% above last October. Pork production in October 2024 was 2.5 billion pounds, up 5.2% over October 2023. Year-to-date pork production is 2.5% above the same period in 2023.

Cattle on Feed:

The November Cattle on Feed report came in near the midpoints of the pre-report expectations in nearly all categories. Cattle on Feed on November 1 was 100.3% of last year, suggesting feedyards remain full. October placements were 105.3% of last year and near the pre-report midpoint of 103.3. This report suggests that beef supplies will not be reduced much in early 2025.

Next week's reports:

» Cold Storage

» Outlook for U.S. Trade

» Restaurant Performance Index

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