Livestock Marketing Information Center

Current Situation and Analysis
Last Updated: 7/13/2018
FEEDER CATTLE CASH MARKET PRICE VOLATILITY DIMINISHES

           By the numbers, cattle producers with summer stockers and cow-calf operations should be experiencing a bit less stress about the market this year. Yearling steer prices (750- to 800-pound at Oklahoma City) averaged $145.13 per cwt. during the first six months of the year, up from 138.68 over the same months in 2017. The same comparison for steer calves showed this year’s average price for the first six months at $176.98 per cwt. compared to $167.37 over the comparable span last year.


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ACREAGE REPORT PLEASANT SUPRISES FOR LIVESTOCK ENTERPRISES

            Higher acreage than expected for corn, soybeans, and hay was a pleasant surprise to the livestock sector. The annual Acreage report (released June 30th) by USDA-NASS showed corn acreage planted at 89.1 million acres, 1 million acres below last year but half a million acres higher than the pre-report estimates. Soybean acres also were south of last year’s acreage, coming in at 89.6, more than half a million acres higher than March intentions. Hay acres saw a sharp increase adding more than 1.2 million acres to the mix.


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MIXED RESULTS: MAY U.S. RED MEAT AND POULTRY EXPORTS

           For May, the USDA Economic Research Service compilation of U.S. exports (carcass weight basis for the red meats and on a ready to cook basis for poultry), was a mixed bag of results compared to a year earlier. Year-over-year, beef export tonnage surged 21%, while pork crept up less than 1% (up 0.3%). Broiler exports continued to disappoint, declining by 4%, while turkey tonnage fell by 7%.


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