November beef cow slaughter drops nearly 31% from 2023 | Weekly Livestock Market Update

Brownfield's Meghan Grebner and livestock economist Scott Brown talk about the November beef cow slaughter dropping nearly 31% from 2023. Meghan also introduces the three new economists that will replace Scott in 2025.

Chapters:
0:28 This week in the markets
2:29 Weekly Slaughter
6:30 Livestock Slaughter
10:17 The new faces of Weekly Livestock Market Update
11:08 Cattle on Feed
21:09 Next week's reports

This week in the markets:
Live fed cattle prices are $0.65 higher on the week, and feeder cattle markets were $3 to $8 higher on the week. February live cattle were down $3.70 on the week, and January feeder cattle were down $2.00 on the week. Choice box beef was $3.15 higher this week. Cash hogs were $0.30 higher this week. February lean hog futures were up $0.35 on the week. Pork cutout values were $2.65 higher this week on stronger bellies.

Weekly Slaughter:
At the end of the week, cattle slaughter was 617,000 head, up 8,000 on the week but down 4,000 for the year. Hog slaughter was 2.581 million head, up 21,000 from the previous week and up 152,000 on the year. Year-to-date cattle slaughter is down 3.6% relative to last year, and hog slaughter is up 0.8%.

Livestock Slaughter:
November 2024 beef production totaled 2.2 billion pounds, down 2.7% relative to last year. Total cattle slaughter was 5.9% below last year in November. November beef cow slaughter was nearly 31% lower in November 2024 than last year. Beef cow slaughter for the first 11 months of 2024 totaled 9.2% of the beginning beef cow inventory. November 2024, pork production totaled 2.3 billion pounds, 2.2% below last year, as hog slaughter fell 2.6% relative to last year.

Cattle on Feed:
Cattle placements in November 2024 were down 3.7% relative to the previous year, near the midpoint of the pre-report estimate. Cattle on Feed on December 1 was down 0.3% relative to last year and also near the pre-report midpoint. Cattle placements were lower due mainly to cattle placements that were less than 700 pounds.

Next week's reports:
» Hogs and Pigs
» Cold Storage

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