Market Reports

First-half 2018 was characterized by higher cow and heifer slaughter, reducing the proportion of steers in the slaughter mix and lowering average cattle dressed weights.

Oklahoma feeder cattle prices averaged nearly 4 percent above one year ago in the first week of August, with calf prices increasing from the previous week. Feeder prices are holding strong despite continued growth in feeder cattle supplies. Combined Oklahoma feeder auction totals have averaged 13 percent higher year over year since early July.

Strong June results capped a huge first half of 2018 for U.S. beef exports, according to data released by the USDA and compiled by the U.S. Meat Export Federation (USMEF).

According to the latest NASS Livestock Slaughter report, commercial production for April 2018 was up 7.8 percent from a year ago to 2.1 billion pounds, pushing year-to-date production levels up 3.8 percent to 8.6 billion pounds.

Beef production for 2019 is projected to expand to 27.7 billion pounds, 1.8 percent above 2018. Cattle placements during second-half 2018 and early 2019 are anticipated to be marginally higher, and these cattle will be slaughtered during 2019.

Worldwide, beef trade this year has been impressive. For April, the U.S. and Australia led the way regarding gains in tonnage of beef sold compared to a year ago. In terms of value, the U.S. remained the top exporter of beef and variety meats, and posted a 20 percent dollar-value increase compared to a year earlier. Foreign markets for beef industry products continue to grow, especially in Asia.