First- and second-quarter 2023 prices are raised to $172 and $190 per cwt, respectively, from the previous month. As cattle are expected to be pulled forward from early 2023, the current price strength was carried forward into the outlook for feeder steer prices the first half of next year. 12 reports sales of yearling feeder steers at $180.35 per cwt, a jump of more than $6 from the previously reported week.īased on continued firm feedlot demand in second-half 2022 and current price data, the third- and fourth-quarter 2022 price forecasts are raised $2 to $173 per cwt and $4 to $177 per cwt, respectively. The most recent available price from Sept. The price for feeder steers 750 to 800 pounds at the Oklahoma City National Stockyards averaged $174.18 per hundredweight (cwt) in August, up nearly $5 from the previous month and $18 from last year. This has likely improved demand for calves weighing more than 700 pounds. Calf prices advance on tightening suppliesīased on recent NASS Cattle on Feed reports, average placement weights are declining, suggesting fewer yearlings are available for placement. Consequently, 2023 beef production forecast is slightly raised by 70 million pounds to 26.3 billion pounds as higher marketings in early 2023 more than offset fewer fed cattle expected for marketing later in the year. As the drought pushes more calves into feedlots at a faster pace than normal, this will likely pull feeder cattle forward next year, decreasing expected marketings in late 2023. This has further resulted in raising expected fed cattle marketings in early 2023 and subsequently raising projected first-quarter 2023 beef production. The large placement of cattle in July and weekly reported sales of stocker and feeder cattle in August supports raising anticipated placements in third-quarter 2022. On a weekday basis, the pace of marketings in July was up almost 1% from last year’s pace and the highest since 2011 for the month. Marketings in July were 1.825 million head, down almost 4% year-over-year with one less weekday in the month. Feedlot net placements in July were up almost 2% year-over-year at 1.709 million head and well above industry analyst expectations. Despite another month of near-record feedlot inventories, the volume is declining seasonally month-over-month since the high set on Feb. 1 feedlot inventory of 11.224 million head, the second largest for the month since the series began in 1996 and 1.4% higher than 11.074 million head in 2021. The latest NASS Cattle on Feed report showed an Aug. As a result, the outlook for 2022 beef production is only marginally higher by 16 million pounds from the previous month to nearly 28 billion pounds. In fourth-quarter 2022, beef production is raised 40 million pounds on higher expected fed cattle and cow slaughter. Head less than a year ago for the same period.īased on the expected pace of cattle slaughter and carcass weight data reported in the first 10 weeks of the third quarter, beef production is adjusted slightly lower by 25 million pounds. Underutilization of Saturday slaughter capacity, which averaged 9,000 Improvement in weekday slaughter is more than offsetting the Figure 1 is highlighting year-over-year change in the average weekday and Saturday slaughter volumes of federally inspected fed cattle.ĭuring the first 10 weeks of the third quarter, fed cattle slaughterĪveraged about 4,000 head per weekday more than last year. 27, packers delivered the largest fed (steer and heifer) cattle slaughter volume this year and the largest since June 2021. Loose Horses.Beef production up on expected heavier dressed weights and higher fed cattle slaughterįor the week ending Aug. Utility & Commercial Cows.$0.80 to $1.27 per lbĬanner & Cutter Cows.$0.30 to $0.50 per lb *Please note that Market Report values are an overall average price range and are not necessarily the lowest and highest sale prices.Īugust 2nd, 2023 Shipshewana Auction Livestock Market Reportīeef Type Heifers.$1.20 to $2.00 per lbĤ39 Sheep, Butcher Lambs.$1.50 to $2.10 per lb Shipshewana Auction Livestock Current Market Report Read our current market report weekly by joining the Shipshewana IN Livestock Sale Facebook Group or by signing up for our Weekly Livestock Report email and select "Livestock Auction" when you subscribe.
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