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There was no USDA National Agricultural Statistics Service (NASS) July Cattle report in 2024 providing an estimate of the cattle inventory on July 1. However, the NASS Cattle on Feed report breaks down the number of steers and heifers in feedlots with capacity of 1,000 head or more on July 1.
The August World Agricultural Supply and Demand Estimates report (WASDE) showed larger supplies, lower domestic use, greater exports and smaller ending stocks. Projected beginning stocks for 2024-25 are 10 million bushels lower based on a slightly higher use forecast for 2023-24.
In the first six months of 2024, the volume of federally inspected heifer and cow slaughter are down by 1% and 14%, respectively. Further, the percentage of heifers and cows in the slaughter mix in terms of the weekly average for January-June over the past 20 years, 2024 has declined year over year.
The July World Agricultural Supply and Demand Estimates report (WASDE) showed corn has larger supplies, greater domestic use and exports, and slightly lower ending stocks. The season-average farm price received by producers is lowered 10 cents to $4.30 per bushel.
U.S. beef export values reached $902.4 million in May, 3% higher than last year and the highest point since June 2023, according to USDA data compiled by the U.S. Meat Export Federation.
The relatively slow pace of slaughter in the first four months of 2024 contributed to the number of cattle on feed longer than 150 days on May 1 being the highest since May 2012.
Curious George. Yes, the little monkey from children’s books who was rescued by “The Man in the Yellow Hat.” That is what kids at school liked to call me – and no, it wasn’t because I was always getting into trouble but because when your last name is George that is where the creativity of kindergartners ends.
The June World Agricultural Supply and Demand Estimates report (WASDE) showed no change to the 2024-25 U.S. corn outlook relative to last month. The season average price received by producers remains at $4.40 per bushel.
The 2025 outlook for beef production is forecast at 25.12 billion pounds, a 6% decline from 2024. Next year will mark the third consecutive year of lower production following the record-large volume set in 2022 and will be lowest since 2015, when the sector began to rebuild following the 2009-13 drought.
The May World Agricultural Supply and Demand Estimates report (WASDE) showed the first forecast for the 2024-25 crop marketing year. The corn crop is projected at 14.9 billion bushels, down 3% from last year’s record as a decline in area is partially offset by an increase in yield.
