Livestock Marketing Information Center
In The Cattle Markets
Updated: 1/13/2025
2025 Picks Up Where 2024 Left Off
Cattle markets are off to a hot start in 2025. All through the supply chain from beef markets to feeder cattle markets, prices are up significantly year-over-year. Continuing tight supplies and strong demand remain the driving forces behind these price movements.
Livestock Monitor
Updated: 1/3/2025
HAY PRICES LOWEST IN FOUR YEARS
National hay (alfalfa and other) prices have been on a downward trend since the start of the 2023/2024 crop year (May to April). Over that period, the national alfalfa hay price went from $288 in April 2023 to the most recent month’s available price of $165 per ton in November 2024. That marks a decline of $123 per ton (-43%) and the lowest price in four years when it was $164 per ton in November 2020. During the current crop year, every month has been below the five-year average. LMIC is forecasting the 2024/2025 alfalfa hay price to range from $170-$180 per ton.
DAIRYMEN CALIBRATE OUTPUT FOR BRIGHT 2025 OUTLOOK
Dairymen took a break from adding more cows to the milk cow herd in November, registering a five-thousand head decline that follows three months of increases. From July to November, the national milk cow herd expanded by 46 thousand cows, 26 thousand more than a year earlier in November. Milk cow productivity also fell below year-earlier volumes by more than -1%. If changes to the milk cow herd count show little change from November, as expected, and milk cow productivity is close to unchanged from last December, then fourth quarter milk production will be about unchanged from last year.
BEEF VALUES FINISH 2024 ON STRONG NOTE
Beef values finished strong in 2024 with all primals and the cutout value finishing at or above levels observed in 2023. For the week ending 12/27/24, the boxed beef cutout value was $319.58 per cwt, up +9.7% ($28.13) from the same week in 2023 and up +35.4% ($83.55) over the 2018-2022 five-year average value. In fact, for all of 2024, the average value recorded for boxed beef was $308.12 per cwt, an $8.79 per cwt (+2.9%) improvement from 2023’s average of $299.32 per cwt.
Livestock Monitor pdf