Prepared and written by Jeff Swenson, DATCP Livestock and Meat Specialist. The Market Update draws information from several sources, including trade publications, radio broadcasts, agricultural news services, individuals involved in the industry as well as USDA NASS and AMS reports.
Cattle
Wide price swings continue in the cattle market. Negotiated trade was $8-$10/cwt higher last week, with futures contracts $15 higher. Feeder cattle contracts found confidence and were higher as well. News of a new case of New World Screwworm detection 120 miles south of the U.S.-Mexico border last Wednesday likely means the border will remain closed into 2026. Packers’ higher bids are coming at a time of lower wholesale prices. The Choice beef cutout value averaged $364.27 last week, making it $4.65 lower. The cutout was $360.90 this Monday, making it close to the $360 level of resistance. The next level of resistance would be $340.
Last week’s harvest estimate exceeded expectations at 600,000, which was 102,000 more than Thanksgiving week and 14,000 fewer than a year ago. Beef production was slightly above last year with fewer head harvested. Carcass weights continued to get heavier throughout the year, but given recent cold and winter weather, we have likely seen the highs for the year. Of the weekly harvest, 49% were fed steers and 32% fed heifers. Cows made up 17.5% of the total. Beef cow harvest totaled 2.1 million head through mid-November. This is 18% below the same period in 2024. It is unclear whether beef is being mentioned during trade negotiations with China, nor has there been progress on getting the roughly 400 companies and exporters recertified by China to restart shipments there.
Top Quality
Top quality steers and heifers were higher, bringing $215-$227/cwt with some packages to $230/cwt. Mixed Choice and Select steers and heifers ranged from $207-215/cwt. High grading Holstein steers were higher at $190-$215/cwt with some to $218/cwt. Lower grading steers brought $169-$190/cwt. Silage fed, under finished, or heavy dairy breed steers brought $90-$169/cwt. Dairy Beef cross steers were higher, bringing $180-$225. Cows were higher. Most cows brought $110-$143/cwt with a few selling into the high $150s. Lower yielding cows brought $60-$109/cwt. Doubtful health and thin cows brought up to $60/cwt. Dairy breed bull calves were mixed, selling from $600-$1,000/head, with some higher. Dairy breed heifer calves brought $300-$600/head. Beef and Beef Cross calves were steady from $700 to $1,450/head, with some higher. Light and lower quality calves sold up to $60.
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