Livestock and Grain Markets, Prices & Futures
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Latest News from Markets
Looking back, 2024 was mostly a continuation of the story that has been developing since 2022.
Cash cattle averaged $194.99 per cwt. while lean carcass hog prices were at $80.35 per cwt.
Last week’s federally inspected cattle harvest was 5,000 head smaller than the prior week and 38,000 head smaller than the same week a year ago. A large contribution gap between classes of cattle in the harvested total remains in place.
The packer/feeder margin spread grew this week in favor of the feeder at $285 per head while pork producers found positive margins of $39.77.
Calf and feeder cattle prices have been much more active in the past three weeks with two market-moving events, including precipitation in the central states and the temporary closure of the southern border due to screwworms.
Packer margin losses grow, with beef packers at a loss of -$91.33 per head and pork packers averaging losses of -$5.87 per head.
Packer margins remain in the red for beef at -$60.29 and stayed similar for pork.
The latest Cattle on Feed report showed feedlot inventories on Nov. 1 were 11.99 million head, equal to one year ago. Heifer retention still affecting herd rebuilding.
Margins widened this week this week for pork and beef producers while packer margins remain in the red for beef at -$34.67 and decreased for pork to $8.65.
Last week’s harvest averaged 100,000 with except of Veteran’s Day holiday. Feeder cattle demand elevated after widespread precipitation throughout much of the winter wheat grazing region.