Market Reports

The latest Cattle on Feed report showed a Sept. 1 feedlot inventory of 11.125 million head, a record for the month since the current data series began in 1996. The Sept. 1 inventory was 105.9 percent of one year ago.

With much of the Midwest still suffering from moderate to extreme drought conditions, beef and crop producers are keeping a close eye on both foreign and domestic markets, hoping to maximize profit margins on the commodities they have to sell.

In July, the USDA National Agricultural Statistics Service (NASS) released the midyear Cattle report, which provided a snapshot of U.S. cattle inventory, as well as a glimpse into cow-calf producers’ indications for retaining heifers.

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).