Cattle Feedlot Activity Declines in August 2024
Feeder placements and finished cattle marketings both declined last month compared to data in August 2023. The number of cattle in US feedlots on September 1, 2024 was fractionally larger than at the same time a year ago. Feedlot operators continue to cope with the shortage of feeder cattle by feeding cattle already in lots to heavier weights. The aforementioned strategy is aided by cheap feed grain and protein prices lowering the cost of gain.
The projected US domestic beef supply suggests Midwest finished cattle will be trading close to $200 per hundredweight by winter.
| US Beef Supply/Usage (Million Pounds) | 2024/2023 | 2025/2024 | |||||
| Annual | 2021 | 2022 | 2023 | 2024 | 2025 | % Change | % Change |
| Beg Stock | 716 | 676 | 723 | 638 | 605 | ||
| Production | 28,007 | 28,358 | 27,032 | 26,862 | 25,692 | -1% | -4% |
| Imports | 3,375 | 3,391 | 3,727 | 4,328 | 4,335 | 16% | 0% |
| Exports | 3,447 | 3,536 | 3,038 | 2,990 | 2,600 | -2% | -13% |
| End Stocks | 676 | 723 | 638 | 605 | 560 | -5% | -7% |
| Per Cap Use | 58.9 | 59.1 | 58.1 | 58.6 | 56.7 | 1% | -3% |
| Finish Cattle $ | $122 | $144 | $176 | $185 | $186 | 5% | 1% |
| December Cattle Ftures Contract, 2024 our estimate. | |||||||
| Autumn High | $139 | $155 | $192 | $197 | |||
| Autumn Low | $125 | $146 | $162 | $172 | |||
| USDA September 2024 Data | |||||||