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The Midwest Cattleman · October 5, 2023 · P3

                    October 5, 2023   Volume 29   No. 9

               CATTLE SUPPLIES TIGHT AS GEARS                                   CATTLE MARKET HITS ALL-TIME HIGHS
                         SHIFT FOR FALL RUN                                               HOW LONG WILL THE BULL RUN LAST?
             LARGEST DECLINE WAS FOR CATTLE WEIGHING MORE                                              By Paige Carlson
                              THAN 800 POUNDS.                                Both live and feeder cattle        The last bull market,
         As gears shift for the                                             futures hit all-time highs last  nearly ten years ago in 2014
      fall run of calves, Uni-                                              week as a function of histor- and 2015, proved to be rath-
      versity of Arkansas live-                                             ically tight supplies, reports  er short—also a result of
      stock economist James                                                 Michelle Rook on AgDay. Yet,  drought that induced wide-
      Mitchell says some of the                                             the question remains—how  spread culling in the U.S.
      feedlot placement data                                                long could these strong pric- cattle herd. However, in this
      in USDA’s latest “Cattle                                              es last?                          cattle cycle, the cuts prove to
      on Feed” report is inter-                                                                                       be  even  deeper,  Rook
      esting to look at more in                                                                                       notes.
      depth. Overall, the report                                                                                         Many industry and
      showed placements into                                                                                          market experts agree
      feedlots with 1,000 or                Feedlot placements were                                                   there is an upside to
      more head capacity totaled  down 2.3%, 4.7%, and 2.2%                                                           2024, as the smallest
      2.00 million head, 5.1% lower  for cattle weighing less than                                                    cattle inventory is yet
      than in August 2022.               600 pounds, 600-699 pounds,                                                  to come.
         Breaking out feedlot place- and 700-799 pounds, respec-                                                         Brad Kooima with
      ments by weight category,  tively. Seasonally, feedlot                                                          Kooima  Kooima Ver-
      the largest decline was for  placements of lightweight
      cattle weighing more than  calves increase through the                                                                continued on page 10
      800 pounds, which totaled  fall and peak in October, and
      823,000.  This was 8.0%  this is also when total feedlot
      below August  2022. Accord- placements are at their high-                U.S. HOUSE VOTES TO REJECT ATTACK ON
      ing to Mitchell, placements  est, Mitchell explains.                                          CHECKOFFS
      of heavy feeder cattle are            Monitoring       placements                               By Greg Henderson
      highest in  April as cattle  this fall will also be criti-
                                                                              The U.S. House of Repre-
      come off winter pasture and  cal for gauging beef produc-             sentatives  on Wednesday,
      in    August-September         as tion next year, he adds. The
      yearlings come off summer  most  recent  “World  Agricul-             July    27    overwhelmingly
      grass. However, the signifi- tural Supply and Demand                  rejected an attack on fed-
      cant decline in August place- Estimates” report from Sep-             eral    commodity      checkoff
      ments for cattle weighing  tember forecasts 2024 beef                 programs. Two  Republican
      more than 800 pounds may  production at 25.165 billion                proponents argued the farm-
      suggest that there have been  pounds, which would be a                er-funded research and pro-
      limited grazing opportunities  6.6% decline relative to the           motion programs fail to fully
      this summer, Mitchell notes.  most recent estimates for               disclose how the revenue is
      This claim has certainly been  2023 production.                       spent by the programs and  of their colleagues as the
                                                                            they sought to have USDA  amendment failed 49-377.
      supported by this summer’s         BEEF                               barred from operating the            The House also rejected an
      drought map.                                                          programs.                         amendment that would bar
                                                                              GOP Reps. Victoria Spartz  USDA from requiring elec-
         LEGISLATION INTRODUCED TO ADDRESS                                  of Indiana and  Tom Massie  tronic tracking of cattle.
                    VETERINARIAN SHORTAGE                                   of Kentucky led the attack on        Rep. Harriet Hageman,
         U.S. Sens. Debbie Stabe- communities. The Rural Vet-               checkoff programs, but their  R-Wyo., sought to bar USDA’s
      now of Michigan and Mike  erinary Workforce Act would                 efforts  convinced  only  13%                   continued on page 10
      Crapo of Idaho introduced bi- provide tax benefits to veter-
      partisan legislation recently  inarians to encourage them
      to address the critical short- to practice in rural commu-                                            Coming Sales-46
      age of veterinarians in rural  nities.
                                            In 2003, Congress estab-                                        Life is Simple-5
                                         lished  the  Veterinary  Med-                                      Market Report-8
                                         icine Loan Repayment Pro-                                          Agribusiness
                                         gram to address this shortage                                      Directory-44
                                         by assisting qualifying veter-
                                         inarians with student loan

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