MARCH 20, 2024
I LLI NOI S B E E F
#20
devin@illinoisbeef.com
CAT TLE CONCEPTS
MONTHLY N E WS
E- N E W S L E T T E R
| ILLINOIS BEEF ASSOCIATION | SPRINGFIELD, ILLINOIS | WWW.ILLINOISBEEF.COM |
Market Report Greenville Livestock Auction March 9, 2024 Total: 156 Feeder: 0 (0.0%) Replacement: 156 (100.0%) Trade: Special Stock Sale - active trade, good demand Fairview Sale Barn March 14, 2024 Total: 1,230 Feeder: 1,230 (100.0%) Replacement: 0 (0.0%) Trade: Good to very good demand United Producers March 12, 2024 Total: Breeding: Slaughter: Feeder: Comments:
213 0 (0.0%) 158 (74.2%) 55 (22.8%) -
Illinois Weekly Summary March 18, 2024 Total: 1,962 Feeder: 1,230 (62.7%) Slaughter: 732 (37.3%) Replacement: 0 (0.0%)
Seedstock Report Upcoming Sales
Bramlet Simmentals From the Ground Up Sale: Spring Edition Harrisburg, IL 3.30.24 Prairie View Farms 14th Annual Production Sale Gridley, IL 4.5.24 Andras Stock Farm Red Angus Bull Sale Manchester, IL 4.6.24 Panther Creek Ranch 30th Annual Production Sale Bowen, IL 4.6.24 Tree Lane Farms Female & Genetics Sale SC Online 4.8.24 Four Corners Farms Angus Fall Born Show Heifer Sale SC Online 4.8.24 Lampe & Frost Fall Born Sale SC Online 4.8.24 Dameron Angus Annual Live Online Spring Sale CCI.Live 4.8.24 Double Diamond Angus Diamonds in the Rough Heifer Sale SC Online 4.9.24 Ellis Farms Annual EFBEEF Bull & Female Sale Chrisman, IL 4.13.24
KEEPING TRACK OF THE LATEST BEEF CATTLE ECONOMICS Producer Events
SALES REPORTS SOURCED FROM USDA AGRICULTURAL MARKETING SERVICES
SEND SALES REPORTS AND UPCOMING SALE INFORMATION TO DEVIN@ILLINOISBEEF.COM
by Josh St. Peters Since the beginning of the year, I have logged a lot of miles crisscrossing the state, connecting with hundreds of producers in all corners of the state. The recurring theme of discussion has been the strength we’re seeing in our cattle markets, and Tri-County Cattlemen the looming question of how long this will last. Absent a crystal ball, I think a producer’s best bet for monitoring market forces Cattlemen’s Forum | March 22, 2024 is to utilize the many great sources available to us from economists that are much smarter than me. Mek’s on Main, Monmouth - Attendance is I have pulled together highlights from a few of my regular sources. Most of these outlets offer a way to get their updates free, but registration is requested. delivered directly to your e-mail on a regular cadence. Many are free, although a couple may reside behind a paywall: From Oklahoma State’s Extension Cow-Calf newsletter, an interesting highlight of just how strong our cull cow market Adams County Beef Producers has gotten: “Slaughter cow prices are driven by the price of 90 percent lean beef trimmings (90s), which posted a price of Beef Bonanza | March 23, 2024 $317.36/cwt. the first week of March. This is a record high price for 90s in data back to 1978 and undoubtedly an all-time The Ambiance - Tickets can be purchased record weekly price.” from any Adams County Beef Producer. A recent market synopsis by Mike Miller of CattleFax highlighted the surge that calf prices have experienced since January 1: “Something noteworthy that has gone a bit under the radar is the fact that U.S. average calf prices have made new all-time Henry County Beef Association highs for seven consecutive weeks. This past week, the price for U.S. average 550-pound steer reached $320 per cwt. This Annual Banquet | March 23, 2024 represents a $40 per cwt. increase since the start of the year.” Lavender Crest Winery - Tickets can be The “bottom line” prediction from Miller: prices for all classes of cattle will remain solid throughout the year, and he’s reserved with any board member. hedging his bets that an adequate corn crop and continued strength in the futures this year, and we could see calf prices “solidly in the low $300s… and feeder cattle exceeding all-time highs.” Prairie Beef Association So, what does this mean for the retail beef market and our relationship with consumers? Look to Nevil Speer’s latest column Showcase | April 7, 2024 in Drovers for insight on the importance of quality. On the topic of consumer spending in the retail case, Speer says, “at the DeWitt Co. Fairgrounds - For more very core, the beef industry IS a consumer business – or alternatively, consumers ARE the business. And while some might information visit the Prairie Beef Association dispute that thinking, they forget (or never learned) the lessons of overlooking product quality during the ‘80s and ‘90s. Beef Facebook page. spending grew only $6/person between 1980 and 1998 (meanwhile, inflation was running at ~4%). The industry was flailing; beef was fat, tough, and wonky. And the fed market reflected that reality. That’s since turned around. Since 2000, per capita Whiteside County Cattlemen’s Association domestic spending has grown ~$11 annually – representing an annual growth rate of ~3.7% (beating inflation by better than Annual Banquet | April 19, 2024 1%). That means more dollars coming into the business - and as referenced above – the overwhelming majority resulting New Life Lutheran Church, Sterling - The from sales at the top end of the quality grade mix.” Spring Banquet and Scholarship Fundraiser Additional sources to checkout: will feature guest speaker, Dr. Temple OSU’s Derrell Peel talks cattle imports from Mexico for BeefProducer Grandin. Tickets must be purchased in Meghan Grebner of Brownfield shares Weekly Livestock Market Update with Mizzou’s Scott Brown advance from Whiteside Cattlemen’s board Dennis Smith highlights impending seasonal demand increases for BEEF magazine members.
LOOKING FORWARD IBA Award Winner Nominations Your nominations for the Illinois Beef Association member awards are critical to recognize those individuals who “give their all” to make our industry the best it can be. Nominations can be made for your operation or on behalf of another producer. The winners will be recognized at the IBA Annual Meeting. We are very proud of the contributions made by the producers in our industry. This is an opportunity to recognize them both personally and professionally. Nominations close Friday, March 29, 2024!
Southern Illinois Cattlemen Connect Education Series Anna First Christian Church | Anna | Saturday, April 13, 2024 Join IBA for our next CCES meeting in Southern Illinois! We will be working with the Illinois Grazing Lands Coalition to discuss the implementation of sustainable grazing programs for spring, summer and fall. Plus, get to tour small and large cattle operations with strong grazing programs already in place. Register today at www.IllinoisBeef.com