Placements drop 12% on the year in latest On Feed report | Weekly Livestock Market Update

Brownfield Ag News

On this episode of Weekly Livestock Market Update (WLMU), Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown talk placements dropping 12% on the year in the latest Cattle On Feed report.

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This week in the markets:

Live fed cattle prices are $1.00 lower on the week, and feeder cattle prices were $1.00 to $5.00 lower this week. June live cattle were up $4.15 on the week, and May feeder cattle were up $7.75 on the week. Choice box beef was $2.85 lower this week. Cash hogs are up $1.20 this week. June lean hog futures were up $2.95 on the week. Pork cutout values were down $0.20 this week.

Weekly Slaughter:

At the end of the week, cattle slaughter was 620,000 head, up 17,000 on the week and down 5,000 for the year. Hog slaughter was 2.487 million head, up 2,000 from the previous week and up 34,000 on the year. Year-to-date cattle slaughter is down 4.8% relative to last year, and hog slaughter is up 0.7%

Cattle on Feed:

The April 2024 cattle on feed inventory was up 1.5% relative to the year-ago level, slightly outside of the bottom end of the pre-report estimate. Cattle marketed during March was down 13.7% compared to one year ago and outside the pre-report estimates. Cattle placements were 12.3% below the year-ago level and came in below the range of pre-report estimates. The percentage of heifers on feed was 38.5% of total on feed. Although lower than the previous quarter, it suggests there is still no move by cow-calf producers to retain heifers to grow the cow herd.

Next Week's Reports:

➡︎ Cold Storage

➡︎ Livestock Slaughter

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