United States Department of Agriculture National Agricultural Statistics Service ISSN: 1949- 1913 Price Reactions After USDA Livestock Reports March 2025 Contents Livestock Reports and Price Reactions Overview............ 4 Annual Cattle Price Reactions to Cattle on Feed Reports... 5 Monthly Cattle Price Reactions to Cattle on Feed Reports.. 5 Annual Hog Price Reactions to Hogs and Pigs Reports....... 6 Quarterly Hog Price Reactions to Hogs and Pigs Reports.... 6 Information Contacts...................................... 7 Livestock Reports and Price Reactions Overview This report contains price reactions to the United States Department of Agriculture's (USDA) Cattle on Feed and Quarterly Hogs and Pigs reports. The USDA Cattle on Feed report is released monthly and publishes on-feed inventory, fed cattle marketings, and feeder cattle placements. Annual average price reactions to the Cattle on Feed reports are provided in this publication using prices data from the Agricultural Marketing Service (AMS) Market News reports. The USDA Quarterly Hogs and Pigs reports are published each year in March, June, September, and December and provide data on hog and pig inventory, sows farrowing, pig crop estimates, and 3-month and 6-month farrowing intentions. Annual average price reactions to the Quarterly Hogs and Pigs reports are provided in this publication using prices data from the AMS Market News reports. The AMS prices used in this report for cattle and hogs represent sales from producers to first buyers at major markets. The price reaction to the Cattle on Feed and Quarterly Hogs and Pigs reports is indicated by the difference between the price the week prior and the week after each report. Annual Cattle Price Reactions to Cattle on Feed Reports [Marketing year represents the January-December calendar year] -------------------------------------------------------------------------------- : Number of and average price changes 1/ :--------------------------------------------------------------- : Week prior to release : Week after release :--------------------------------------------------------------- : Increases : Decreases : Increases : Decreases :--------------------------------------------------------------- Marketing year : : : : : : : : :Number :Average:Number :Average:Number :Average:Number :Average -------------------------------------------------------------------------------- : dollars dollars dollars dollars : 2014 ...........: 6 4.03 6 2.07 8 2.45 4 1.79 2015 ...........: 2 2.22 10 2.60 6 2.38 6 1.91 2016 ...........: 6 2.14 6 3.41 7 3.42 5 3.46 2017 ...........: 5 2.34 7 2.67 5 4.17 7 2.00 2018 ...........: 5 2.20 7 1.78 6 1.89 6 1.91 2019 ...........: 8 1.29 4 1.13 7 1.87 5 1.48 2020 ...........: 7 1.52 4 3.22 6 3.07 6 2.61 2021 ...........: 6 1.30 6 0.81 8 1.98 4 1.20 2022 ...........: 9 1.30 3 1.14 6 1.51 6 1.18 2023 ...........: 6 1.61 6 1.48 5 1.11 7 1.51 2024 ...........: 9 1.81 3 1.78 7 1.54 5 0.92 -------------------------------------------------------------------------------- 1/ Based on the weekly weighted average prices per cwt. for live steers and heifers from feedlots in Texas, Oklahoma, New Mexico, Kansas, Nebraska, Colorado, Iowa, and Minnesota. Total increases and decreases may not add to twelve for a year when the week-to-week price does not change. Source: Market News, Agricultural Marketing Service. Monthly Cattle Price Reactions to Cattle on Feed Reports --------------------------------------------------------------------------------------- : : Average price 1/ : : : :-------------------------------: : : : : : : Change from : : : : :------------------- : : : : : Week : Week of : : : : :prior to : release Release date :Inventory : Week : Week of : Week : week of : to week :change 2/ : prior : release : after : release : after --------------------------------------------------------------------------------------- : percent ------------------- dollars ------------------- : January 19, 2024 .......: 1.7 173.43 173.90 175.32 0.47 1.42 February 23, 2024 ......: 0.4 180.22 182.95 183.18 2.73 0.23 March 22, 2024 .........: 1.3 187.34 189.50 188.21 2.16 -1.29 April 19, 2024 .........: 1.5 183.62 182.62 184.01 -1.00 1.39 May 24, 2024 ...........: -0.9 188.37 189.99 188.72 1.62 -1.27 June 21, 2024 ..........: -0.1 191.89 194.65 195.04 2.76 0.39 July 19, 2024 ..........: 0.5 194.19 193.32 194.93 -0.87 1.61 August 23, 2024 ........: 0.3 188.77 185.29 183.64 -3.48 -1.65 September 20, 2024 .....: 0.6 182.01 183.95 186.09 1.94 2.14 October 25, 2024 .......: 0.0 187.58 190.15 189.84 2.57 -0.31 November 22, 2024 ......: 0.1 184.82 186.44 190.05 1.62 3.61 December 20, 2024 ......: -0.3 194.18 194.60 194.52 0.42 -0.08 --------------------------------------------------------------------------------------- 1/ Based on the weekly weighted average prices per cwt. for live steers and heifers from feedlots in Texas, Oklahoma, New Mexico, Kansas, Nebraska, Colorado, Iowa, and Minnesota. Total increases and decreases may not add to twelve for a year when the week-to-week price does not change. Source: Market News, Agricultural Marketing Service. 2/ Percent change from previous year at time of each report. Annual Hog Price Reactions to Hogs and Pigs Reports [Marketing year represents December of the previous year through November of current year] ------------------------------------------------------------------------------ : Number of and average price changes 1/ :--------------------------------------------------------------- : Week prior to release : Week after release :--------------------------------------------------------------- : Increases : Decreases : Increases : Decreases :--------------------------------------------------------------- Marketing year: : : : : : : : :Number :Average:Number :Average:Number :Average:Number :Average ------------------------------------------------------------------------------ : dollars dollars dollars dollars : 2014 .........: 3 3.28 1 0.52 3 0.96 1 0.04 2015 .........: 1 0.90 3 1.86 4 0.48 0 0.00 2016 .........: 1 1.45 3 1.07 2 0.55 2 1.72 2017 .........: 1 0.09 3 1.82 2 1.66 2 1.32 2018 .........: 2 3.48 2 2.19 2 3.02 2 3.76 2019 .........: 2 5.34 2 2.31 2 1.64 2 1.42 2020 .........: 3 1.59 1 0.23 3 0.70 1 7.44 2021 .........: 1 3.12 3 3.58 1 3.04 3 4.86 2022 .........: 0 0.00 4 1.28 2 0.80 2 3.11 2023 .........: 0 0.00 4 1.34 1 2.76 3 2.82 2024 .........: 2 0.49 2 0.23 3 2.19 1 0.55 ------------------------------------------------------------------------------ 1/ Slaughter Hogs, Iowa, Southern Minnesota base lean prices, converted to live price. Source: Market News, Agricultural Marketing Service. Quarterly Hog Price Reactions to Hogs and Pigs Reports [Price change may not equal difference between average prices due to rounding] --------------------------------------------------------------------------------------- : : Average price 1/ : : : :-------------------------------: : : : : : : Change from : : : : :------------------- : : : : : Week : Week of : : : : :prior to : release Release date :Inventory : Week : Week of : Week : week of : to week :change 2/ : prior : release : after : release : after --------------------------------------------------------------------------------------- : percent ------------------- dollars ------------------- : March 30, 2023 .........: 0.2 57.53 56.19 53.35 -1.34 -2.84 June 29, 2023 ..........: 0.1 71.05 70.57 73.33 -0.48 2.76 September 28, 2023 .....: 0.3 58.30 56.93 54.27 -1.37 -2.66 December 22, 2023 ......: 0.0 36.16 35.73 35.18 -0.43 -0.55 : March 28, 2024 .........: 0.6 59.64 59.73 63.65 0.09 3.92 June 27, 2024 ..........: 1.3 65.04 65.93 67.92 0.89 1.99 September 26, 2024 .....: 0.5 56.86 56.82 57.49 -0.04 0.67 December 23, 2024 ......: 0.5 58.33 58.77 59.28 0.44 0.51 --------------------------------------------------------------------------------------- 1/ Slaughter Hogs, Iowa, Southern Minnesota base lean prices, converted to live price. Source: Market News, Agricultural Marketing Service. 2/ Percent change from previous year at time of each report. Information Contacts Listed below are the commodity specialists in the Livestock Branch of the National Agricultural Statistics Service to contact for additional information. E-mail inquiries may be sent to nass@usda.gov. Travis Averill, Chief, Livestock Branch ...... (202) 692-0069 Vacant, Head, Livestock Section Vacant - Dairy Products Sherry Bertramsen - Livestock Slaughter ... (202) 690-8632 Ryan Cowen - Cattle, Cattle on Feed ....... (202) 720-3040 Kim DaPra - Milk Production and Milk Cows.. (202) 720-3278 Ralph Mondesir - Hogs and Pigs ............ (202) 720-3106 Suzanne Richards - Sheep and Goats ........ (202) 720-4448 Access to NASS Reports For your convenience, you may access NASS reports and products the following ways: All reports are available electronically, at no cost, on the NASS web site: www.nass.usda.gov. Both national and state specific reports are available via a free e- mail subscription. To set-up this free subscription, visit www.nass.usda.gov and click on "National" or "State" in upper right corner above "search" box to create an account and select the reports you would like to receive. Cornell's Mann Library has launched a new website housing NASS's and other agency's archived reports. The new website, https://usda.library.cornell.edu. All email subscriptions containing reports will be sent from the new website, https://usda.library.cornell.edu. To continue receiving the reports via e-mail, you will have to go to the new website, create a new account and re-subscribe to the reports. If you need instructions to set up an account or subscribe, they are located at: https://usda.library.cornell.edu/help. You should whitelist notifications@usda-esmis.library.cornell.edu in your email client to avoid the emails going into spam/junk folders. For more information on NASS surveys and reports, call the NASS Agricultural Statistics Hotline at (800) 727-9540, 7:30 a.m. to 4:00 p.m. ET, or e-mail: nass@usda.gov. In accordance with Federal civil rights law and U.S. Department of Agriculture (USDA) civil rights regulations and policies, the USDA, its Agencies, offices, and employees, and institutions participating in or administering USDA programs are prohibited from discriminating based on race, color, national origin, religion, sex, disability, age, marital status, family/parental status, income derived from a public assistance program, political beliefs, or reprisal or retaliation for prior civil rights activity, in any program or activity conducted or funded by USDA (not all bases apply to all programs). Remedies and complaint filing deadlines vary by program or incident. Persons with disabilities who require alternative means of communication for program information (e.g., Braille, large print, audiotape, American Sign Language, etc.) should contact the responsible Agency or USDA's TARGET Center at (202) 720-2600 (voice and TTY) or contact USDA through the Federal Relay Service at (800) 877-8339. Additionally, program information may be made available in languages other than English. To file a program discrimination complaint, complete the USDA Program Discrimination Complaint Form, AD-3027, found online at How to File a Program Discrimination Complaint and at any USDA office or write a letter addressed to USDA and provide in the letter all of the information requested in the form. To request a copy of the complaint form, call (866) 632-9992. Submit your completed form or letter to USDA by: (1) mail: U.S. Department of Agriculture, Office of the Assistant Secretary for Civil Rights, 1400 Independence Avenue, SW, Washington, D.C. 20250-9410; (2) fax: (202) 690- 7442; or (3) email: program.intake@usda.gov. USDA is an equal opportunity provider, employer, and lender.