Livestock Marketing Information Center
In The Cattle Markets
Updated: 7/15/2024
Feedlot Returns
Each month an updated assessment of recent feedlot returns is posted to K-State’s AgManager.info website (https://www.agmanager.info/livestock-meat/cattle-finishing-historical-and-projected-returns). This series reflects a cash situation, presumes no ongoing hedging of feed or cattle price movement, and is intended to provide a barometer of profitability trends rather than precise estimates for any given feedlot situation.
Livestock Monitor
Updated: 7/9/2024
JUNE 1 HOGS AND PIGS REPORT
Results from the June 1 Hogs and Pigs report showed that all hogs and pigs totaled 74.5 million head, up +1.3% from last year and in line with pre-report estimates. The breeding herd fell -3.2% from last year to 6.0 million head; this was larger than analysts expected. Pre-report estimates had the breeding herd down -3.0% to -1.0% with an average decline of -2.2%. Market hogs were 68.5 million head, an increase of +1.7% from last year and in line with average pre-report estimates which were expecting an increase of +1.6%.
BEEF AND CATTLE TRADE UPDATE
Beef exports totaled 260 million pounds in May, which is a -3% (7.8 million pound) decline from last year. Of the top five destinations for US beef exports, Japan and Mexico both saw increases in May compared to last year. Exports to Japan were 55 million pounds (+14%) in May while beef exports to Mexico were 27 million pounds (+15%). Declines in beef exports were seen to South Korea, China, and Canada of -23%, -9%, and -23%, respectively, to 50, 4, and 7 million pounds. In May, beef imports totaled 343 million pounds, an increase of 10% from last year.
GRAIN MARKETS – PLANTED ACREAGES
USDA-National Agricultural Statistics Service (NASS) reported in late June that the area planted to corn in the US is 91.475 million acres, down from 94.641 million acres in 2023. This figure was up from 91.0 million acres that farmers were expected to plant this year based on mail survey results in March. LMIC had expected plantings to come in at 94.25 million acres. The actual plantings deviations from expectations are not large enough to have a major impact on forecast projections for the corn market in the coming year.
Livestock Monitor pdf