Livestock Marketing Information Center
In The Cattle Markets
Updated: 9/30/2024
Seasonality in Feeder Cattle Prices
The fall months are when a majority of producers across the country are selling spring-born calves or yearlings from last fall. Due to the increase in supply of calves, prices typically decline during these months. A way to show this seasonality trend is to look at the seasonal price index. The average annual price index shows the relationship between each month’s average price and the annual average price. When the price index is above 100%, that means prices in that month, on average, are higher than the annual average, (spring). When the price index is below 100%, that means average prices in that month are lower than the annual average, (fall).
Livestock Monitor
Updated: 9/27/2024
SEPTEMBER 1 HOGS & PIGS REPORT
The September 1 Hogs and Pigs report released by USDA NASS showed a slight increase in All Hogs and Pigs inventory levels of +0.5% to nearly 76.5 million head. The average pre-report estimate had All Hogs and Pigs up +0.5% from a year ago. Hogs kept for breeding was just over 6.0 million head, a decline of -2.2% from the previous year. Analysts’ pre-report estimates were expecting an average decline in hogs kept for breeding of -3.2%.
CATTLE ON FEED
Last week USDA NASS reported cattle on feed totaled 11.198 million head as of September 1st, marking a +0.6% increase from the previous year. Analysts had projected pre-report estimates ranging from 11.209 to 11.344 million head, up +0.1% and +1.3%, respectively, and an average forecast of up +0.7%. Fed cattle marketings in August totaled 1.818 million head, down -3.6% from last year. Marketings were on par with pre-report expectations, which predicted a -3.5% decline on average with estimates ranging from a -4.0% to -2.5% decrease.
POULTRY OUTLOOK UPDATE
Broiler production (ready-to-cook weight) in August was down -3.0% from a year earlier as there was one less slaughter day in the month than in 2023. Average bird weights were almost +2.0% heavier. Given the adjustment in slaughter days, broiler production this quarter is still on track to be up +2.0% from last summer but is about -2.0% less than was expected for the quarter a couple months ago.
