We hear why nutrition should never be considered when trying to reduce expenses on the ranch. How are grass cattle selling at local auctions? We hear news, markets, updates and more wrapped into this all new episode of The Ranch It Up Radio Show. Be sure to subscribe on your favorite podcasting app or on the Ranch It Up Radio Show YouTube Channel.
EPISODE 181 DETAILS
FURST MCNESS & LEGACY FORWARD BEEF NUTRITION
Our Services
Delivering cutting-edge nutrition technologies and innovative health products..
Furst Animal Health
Pioneering value-driven solutions through teamwork and innovative animal health products.
McNess Nutrition
Over a century of excellence in providing tailored commercial feed solutions and high-performance feed technologies.
The Furst McNess Culture
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Understand that being great is a choice
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Never settle for average or “good enough”
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Relentlessly search for ways to serve our customers better
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Work as a team
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Value and respect one another
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Earn trust through our actions
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Act in a sage and professional manner at all times
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Conduct ourselves with the highest level of integrity
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Deliver on the commitments we make
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Invest in our professional and personal development
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Maintain a positive work environment that promotes success
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Have fun and celebrate our successes
STOCKMEN’S LIVESTOCK SALE REPORT
COW COUNTRY NEWS
Beef Forecast Rebounds
Flat is the new up, when it comes to the latest forecast of U.S. beef production, according to the latest analysis by Steiner Consulting Group, via its Daily Livestock Report.
It’s likely that beef production for this year will be only 509 million pounds – 1.9% – lower than a year ago, the report said. That’s a sharp improvement from the expected 8% drop forecast a year ago. Meanwhile, the USDA held steady with its beef import forecast, anticipating a 12% rise, and its expectations for an 8% drop in beef exports. That means that the country’s supply of beef per capita is roughly unchanged, according to Steiner analysis.
Beef Exports Fall As Imports Rise
Derrell Peel, Oklahoma State University Extension Livestock Marketing Specialist recently wrote for meatingplace.com saying that U.S. beef trade continues to evolve in the face of a unique domestic cattle market situation. Beef exports in February were down 1.3% year over year with the two-month total thus far in 2024 down 2.6%. This follows a 2023 year over year decrease of 14.3% from record 2022 beef exports. Beef exports in the first two months of the year are down year over year from most of the top markets; including number one Japan, number two South Korea, and number three China/Hong Kong. Additionally, Canada, the number five market is down 2.0% thus far in 2024, along with number six Taiwan. Mexico, which had been the number three market as recently as 2019, is currently the number four market but recovering. Beef exports to Mexico were up in January and February.
Beef imports in February were up 23.8% year over year and are up 31.9% in the first two months of the year. Beef imports this year are led by Brazil, who jumps out strongly to fill the “other country” quota early in the year, with shipments moderating after two or three months in the face of the over-quota tariff. Imports from Brazil are up 41.8% year over year thus far in 2024. Imports from Australia are up sharply so far this year. Canada is the number two import source, slightly ahead of Australia and up 9.0 percent year over year. New Zealand is the number four beef import source and is up 48.6 percent thus far in 2024.
Beef exports continue to face headwinds as beef production decreases and beef prices increase in the U.S. market. A generally strong U.S. dollar adds additional headwinds, making U.S. beef imports more expensive to international customers. At the same time, decreasing domestic beef supplies in the U.S., coupled with higher prices, attracts additional beef imports, with the strong dollar adding additional incentive for beef imports. As is typical, beef imports are heavily dominated by imports of lean processing beef to supplement decreasing supplies of non fed beef in the U.S. Decreasing lean beef supplies, coupled with strong ground beef demand in the U.S. is pushing 90 percent lean prices (and ground beef prices) to record levels. Fed beef (steer and heifer) production is declining, but the large percentage of yield grade 4 and 5 in feedlot cattle means that the supply of fatty (50 percent lean) trimmings is high relative to lean beef supplies and stimulating strong demand for domestic and imported lean processing beef to increase ground beef production.
UPCOMING BULL SALES ANGUS CHAROLAIS HEREFORD GELBVIEH BALANCER RED ANGUS SIMMENTAL SIMANGUS SOUTH DEVON POUNDMAKER NAVIGATOR
DLCC Ranch: April 20, 2024, Pierz, Minnesota
Four Hill Farm North Country Angus Alliance: April 21, 2024, Bagley, Minnesota
Spruce Hill Ranch: May 2, 2024, Bowman, ND
BULL SALE REPORT & RESULTS
Eichacker Simmentals & JK Angus
Leland Red Angus & Koester Red Angus
U2 Ranch
FEATURING
Robby Bondurant, Ph.D.
Willard Lemaster
Furst – McNess Company
https://www.mcness.com/legacy-
Austin Henderson
Stockmen’s Livestock
Kirk Donsbach: Stone X Financial
Mark Van Zee
Livestock Market, Equine Market, Auction Time
https://www.livestockmarket.
Shaye Koester
Casual Cattle Conversation
https://www.
Questions & Concerns From The Field?
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References
https://www.livestockmarket.
https://www.
https://
https://dailylivestockreport.
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