USDA Beef/Cattle Outlook: May 2024
Beef/Cattle Outlook
USDA Beef/Cattle Outlook: May 2024

Cattle prices are projected to reach new highs in 2025; however, the 2024 forecast is lowered from last month.

Thu May 16 2024

5/16/24: Weekly Beef, Pork, & Corn Export Highlights
Exports
5/16/24: Weekly Beef, Pork, & Corn Export Highlights

Weekly Beef Sales were up 23%; Exports down 4%

Thu May 16 2024

14% of U.S. Cattle are in Drought Areas...  Down 1% from Last Week
DROUGHT
14% of U.S. Cattle are in Drought Areas... Down 1% from Last Week

13.98% of the Lower 48 States are in Drought compared to 15.08% Last Week.

Thu May 16 2024

CFTC Charges Agridime and Its Co-Founders with a Fraudulent Cattle Scheme
Cattle Ponzi Scheme
CFTC Charges Agridime and Its Co-Founders with a Fraudulent Cattle Scheme

The complaint alleges the defendants engaged in a scheme to defraud thousands of customers in at least 14 states.

Wed May 15 2024

Pasture & Range Conditions as of 5/12/24
Pasture & Range Conditions
Pasture & Range Conditions as of 5/12/24

47% of Pasture & Range Conditions rated 'Good to Excellent' compared to 46% Last Week and 34% Last Year.

Tue May 14 2024

Lonesome Lands: U.S. Government's Agricultural Land Grab
Lonesome Lands
Lonesome Lands: U.S. Government's Agricultural Land Grab

The Biden administration has a stated goal of conserving 30% of the U.S. land and waters by the year 2030.

Tue May 14 2024

May Hay Stocks provide Early Perspective on 2024 Hay Supply
Hay Stocks
May Hay Stocks provide Early Perspective on 2024 Hay Supply

At the national level, hay stocks were estimated to be up by more than 46% from 2023.

Tue May 14 2024

Producer Price Index shows Wholesale Inflation Surges Again
Inflation
Producer Price Index shows Wholesale Inflation Surges Again

U.S. wholesale prices jumped 0.5% in April in another sign of sticky inflation.

Tue May 14 2024

Alabama Second State to Ban Lab-Grown Meat
FAKE MEAT
Alabama Second State to Ban Lab-Grown Meat

More than 150 companies across the world sell cell cultivated meat, including 43 in the United States.

Mon May 13 2024

Corn Crop Planted & Emerged as of 5/12/24
Corn Crop
Corn Crop Planted & Emerged as of 5/12/24

49% of Corn Crop planted compared to 36% last week and the 5 Year Average of 54%.

Mon May 13 2024

Feeder & Stocker Cattle Marketings for the week ending 5/11/24
Feeder & Stocker Cattle Marketings
Feeder & Stocker Cattle Marketings for the week ending 5/11/24

Last week's Marketings were 7.1% lower than the 3 Year Average.

Mon May 13 2024

Two Sides of the Heifer Coin
Cattle Herd Expension
Two Sides of the Heifer Coin

When cattle numbers, specifically the cow herd, are low, retention of heifers to increase beef production makes the already short supply of beef even smaller before the cow inventory can expand and lead to increased beef production.

Mon May 13 2024

Weekly Cattle Market Overview for Week Ending 5/10/24
Cattle/Beef Prices
Weekly Cattle Market Overview for Week Ending 5/10/24

For the week, fed cattle trade in the Southern Plains and Northern Plains was mostly steady. Feeder cattle and stocker calves were both lower.

Sat May 11 2024

May WASDE: Cattle Prices and Beef Exports Lowered; Corn Price Lowered
WASDE
May WASDE: Cattle Prices and Beef Exports Lowered; Corn Price Lowered

Cattle prices in 2024 are lowered on recent data and a more rapid pace of marketing in the second half of the year.

Fri May 10 2024

Bullish/Bearish Indicator for week ending 5/10/24
Bullish/Bearish Consensus
Bullish/Bearish Indicator for week ending 5/10/24

The theory behind the "Bullish/Bearish Indicator" is when the public reaches a consensus, they are usually wrong.

Fri May 10 2024

15% of U.S. Cattle are in Drought Areas...  Down 2% from Last Week
DROUGHT
15% of U.S. Cattle are in Drought Areas... Down 2% from Last Week

15.08% of the Lower 48 States are in Drought compared to 16.96% Last Week.

Thu May 09 2024

5/9/24: Weekly Beef, Pork, & Corn Export Highlights
Exports
5/9/24: Weekly Beef, Pork, & Corn Export Highlights

Weekly Beef Sales were down 45%; Exports up 11%

Thu May 09 2024

Jobless Claims Jump to Highest Level in Nine Months
Economy
Jobless Claims Jump to Highest Level in Nine Months

Claims rise 22,000 to 231,000, well above expectations of 214,000.

Thu May 09 2024

Surprise! More Beef
Dressed Beef
Surprise! More Beef

If weights continue to be larger than a year ago, the total number of cattle processed will decline further.

Wed May 08 2024

'Beyond Meat' faces Less Demand for its Fake Meat
FAKE MEAT
'Beyond Meat' faces Less Demand for its Fake Meat

Company posts mixed Q1 results, and stock drops 9%; ‘further weakened demand’ seen for plant-based meats.

Wed May 08 2024

Cattle Empire
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Upcoming Sales...

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Clifton Livestock Commission 1st Annual Front Pasture Replacement Sale