By Scout Nelson
2024 marked another challenging yet stable year for the cattle industry, continuing the trends that began in 2022. The year's narrative centered on the sustained high prices resulting from limited cattle supplies, setting new records yet showing a general stability rather than a dramatic shift in market dynamics.
The calf crop for 2024 decreased by over one percent, marking the sixth consecutive year of decline. Despite this, feedlots managed to maintain average monthly inventories slightly above previous year levels, thanks largely to increased heifer feeding and longer feeding periods. Heifers comprised 39.7 percent of feedlot inventories by October 1, indicating a lack of significant heifer retention for breeding purposes.
Operational adjustments such as extending days on feed played a crucial role in maintaining these inventory levels. For instance, Kansas feedlots reported a 3.2 percent increase in days on feed for steers, translating to an additional six days compared to 2023.
While overall beef production in 2024 dipped only slightly by 0.6 percent year-over-year, fed beef production actually rose by 2.2 percent. This increase was fueled by a modest rise in steer slaughter and significantly heavier carcass weights, with steers and heifers showing an average increase of 22 and 18 pounds, respectively. These factors helped compensate for a 1.1 percent decline in heifer slaughter.
The year also witnessed a significant downturn in nonfed beef production, which fell by 13.2 percent due to notable reductions in cow slaughter. Beef cow slaughter decreased by 19.0 percent, and dairy cow slaughter by 12.2 percent, pushing wholesale trimmings prices to record highs and bolstering demand for imported beef and lean end meats.
As the industry transitions into 2025, the focus remains on potential signs of herd rebuilding. The absence of significant heifer retention as 2024 closed leaves opens questions about the direction of cattle inventories and the timing of any herd expansion. The upcoming USDA-NASS annual Cattle report, expected on January 31, 2025, will provide critical data to gauge the future of the cattle industry.
Photo Credit:gettyimages-pamwalker68
Categories: Kansas, Livestock, Beef Cattle, Dairy Cattle