April Cattle Futures versus USDA’ 2nd quarter price forecast
This month USDA forecast the April/June average Midwest finished cattle price at $186/Cwt. Recent history reveals the April live cattle contract has made a high in excess of the USDA 2nd quarter cash forecast in nine of ten years. On September 24, 2024 the April cattle contract closed at the same price as USDA’ April/June cash price forecast.
| USDA September Forecast Versus April Live Cattle Futures | |||||
| Year | USDA | High | Percent | Low | Percent |
| 2015 | $156 | $171 | 110% | $145 | 93% |
| 2016 | $153 | $144 | 94% | $123 | 80% |
| 2017 | $121 | $126 | 104% | $97 | 80% |
| 2018 | $114 | $130 | 114% | $110 | 96% |
| 2019 | $123 | $130 | 106% | $119 | 97% |
| 2020 | $117 | $129 | 110% | $84 | 72% |
| 2021 | $107 | $127 | 119% | $109 | 102% |
| 2022 | $128 | $149 | 116% | $134 | 105% |
| 2023 | $152 | $178 | 117% | $153 | 101% |
| 2024 | $186 | $198 | 106% | $165 | 89% |
| 2025 | $186 | $186 | 100% | $186 | 100% |
| USDA September 2nd quarter Forecast versus October/April Price Range | |||||
Futures prices plugged in for 2025 are the close for the April live cattle contract on 9/24/24.