Page 3 - MWC 10-5-2023s

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

continued on page 10