TRADE UPDATE TRADE UPDATE

Year-to-date through August, U.S. beef imports rose +20.9% to just over 3.0 billion pounds, while exports fell -3.6% to about 2.5 billion pounds. Pork imports rose +4.0% through August to 775.2 million pounds while exports grew +4.6% to 4.7 billion pounds.

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CPI AND RETAIL PRICES CPI AND RETAIL PRICES

In September, retail beef prices posted gains with the Choice price increasing +2.8% from last year to $8.41 per pound while the all-fresh beef price rose 5.0% from last year to a record $8.21 per pound.

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CHEESE MARKETS AND MILK PRICES CHEESE MARKETS AND MILK PRICES

Dairy markets finished up the summer quarter on solid ground with both price and product usage trends moving higher. Wholesale cheddar cheese prices (40-pound block) averaged $2.06 per pound during the summer quarter, up from $1.79 in the prior quarter and $1.82 a year ago.

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In The Cattle Markets In The Cattle Markets

A free newsletter produced jointly by the: University of Arkansas, Colorado State University, University of Florida, University of Georgia, Kansas State University, South Dakota State University, Texas A&M, and University of Wyoming.

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Livestock Marketing Information Center

In The Cattle Markets
Updated: 10/07/2024

Cattle and Beef Markets

Cattle and beef markets started the fourth quarter with some considerable price optimism. Live cattle futures and feeder cattle futures rallied to close to levels seen prior to the second price break in August. We are still some distance from the levels seen at the beginning of the year, but moves in September were strongly higher, and the discussions are markedly different from the second quarter. What are the underlying fundamentals?

In The Cattle Markets (PDF)


Livestock Monitor
Updated: 10/11/2024

TRADE UPDATE

The USDA ERS released its August Monthly Meat and Livestock Trade data on Wednesday. Year-to-date through August, U.S. beef imports rose +20.9% to just over 3.0 billion pounds, while exports fell -3.6% to about 2.5 billion pounds. Imports from Canada were 658.8 million pounds from January to August (up +3.2% year-to-date), while year-over-year imports were down -1.9% in August. Australia has seen the strongest growth in 2024, with imports rising +69.9% to 635.7 million pounds through eight months of the year, including a 46.3% increase year-over-year in August.


CPI AND RETAIL PRICES

The Consumer Price Index (CPI) in September posted a +2.4% increase over last year. The inflation rate has not been below 2.5% since February 2021 (1.7%). The meat CPI posted a +2.5% increase over last year, the poultry CPI was up marginally by +0.5%, the housing CPI rose +4.1%, while energy fell -6.8%. The core CPI (all items less food and energy) increased +3.3% in September and has remained in the 3% range since December 2023.


 CHEESE MARKETS AND MILK PRICES

Dairy markets finished up the summer quarter on solid ground with both price and product usage trends moving higher. Wholesale cheddar cheese prices (40-pound block) averaged $2.06 per pound during the summer quarter, up from $1.79 in the prior quarter and $1.82 a year ago.  American-type cheese usage, which was down from a year earlier during the first half of the year, was on track to be unchanged from the summer of 2023.

Livestock Monitor pdf
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