Farms.com Home   News

USDA Cattle Report Shows Strong Market Prices Support Higher Feedlot Numbers

Derrell PeelOklahoma State University Extension livestock marketing specialist, said the U.S. Department of Agriculture’s October cattle reports indicate markets have not yet recovered from drought in the southern plains.

Peel reviewed October market trends on an episode of “SUNUP,” the agriculture television show of OSU Agriculture, with the following highlights:

Cattle on feed report

  • Placements were up 106% from 2022.
  • Marketings were 89% of last year’s total.
  • The combination of larger placements and lower marketings resulted in a 1% increase from October 2022, the first monthly increase on a year-over-year basis reported in 2023.
  • Lingering drought and strong market prices support increased placements at feedlots.
  • Feeder cattle were sold earlier than usual to take advantage of high market prices.
  • Feedlot supplies are going to be bigger than expected in the near future.

Quarterly heifer and steer report

  • Heifers on feed were up not only from July but also up slightly from July 2022.
  • Heifers on feed are currently 40% of the total feedlot inventory — the highest feedlot level for heifers since 2001.
  • High levels of heifers on feed and heifer slaughter along with strong levels of beef cow slaughter suggest the beef industry is still liquidating females.
  • Beef cow inventory will be down on Jan. 1, 2024.
  • The beef industry’s tight supply situation has been extended.
Source : okstate.edu

Trending Video

Secure Pork Supply Plan | Prepare to Protect Your Herd | U.S. Pork Producers

Video: Secure Pork Supply Plan | Prepare to Protect Your Herd | U.S. Pork Producers

Join Jill Brokaw, a third-generation pig farmer and staff member of the National Pork Board, as she dives into the vital role of the Secure Pork Supply (SPS) Plan in preparing the U.S. pork industry for potential foreign animal disease outbreaks. This video is an essential watch for pork producers who are looking to safeguard their operations against the threats of diseases like foot and mouth disease, classical swine fever, and African swine fever.

•Why Should Pork Producers Care?

An outbreak of foreign animal diseases in the U.S. could lead to severe restrictions and potentially result in industry-wide financial losses estimated between $15 to $100 billion. The SPS Plan is a collective effort to prevent such catastrophic outcomes by enhancing biosecurity, ensuring animal traceability, and promoting effective disease monitoring.

What You'll Learn:

The Importance of Preparedness: Understand why being proactive is crucial for maintaining business continuity during an outbreak.

•Enhanced Biosecurity Measures:

Write a site-specific biosecurity plan that can serve as the first line of defense against potential outbreaks.

•Animal Disease Traceability:

Learn about the significance of tracking animal movement and how acquiring a premises identification number (PIN) and using AgView can facilitate this process. Disease Monitoring: Find out how continuous observation and reporting can keep your herd healthy and disease-free.

•Getting Started with SPS:

The video breaks down the seemingly daunting task of preparing for a foreign animal disease outbreak into manageable steps. With free resources available at www.securepork.org, including templates and instructions, Jill guides producers on developing a customized plan to enhance their farm's defenses.

•Expert Insights:

Hear from Dr. Pam Zaabel on collaborating with your herd veterinarian to develop and implement your SPS plan effectively.

•Takeaway:

The Secure Pork Supply initiative is more than a plan; it's a commitment to the resilience of our food supply and the livelihoods within the pork industry. By embracing these proactive measures, we can collectively enhance our preparedness for foreign animal disease outbreaks.