Price Reactions After USDA Livestock Reports

United States
Department of
Agriculture
National
Agricultural
Statistics
Service

Price Reactions After
USDA Livestock Reports
March 2023

ISSN: 1949-1913

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

Price Reactions After USDA Livestock Reports (March 2023)
USDA, National Agricultural Statistics Service

3

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.

4

Price Reactions After USDA Livestock Reports (March 2023)
USDA, National Agricultural Statistics Service

Annual Cattle Price Reactions to Cattle on Feed Reports
[Marketing year represents the January-December calendar year]
Number of and average price changes
Marketing year

Week prior to release
Increases
Number

Week after release

Decreases

Average

Number

(dollars)
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
1

1

....................................
....................................
....................................
....................................
....................................
....................................
....................................
....................................
....................................
....................................
....................................

8
5
6
2
6
5
5
8
7
6
9

1.44
0.55
4.03
2.22
2.14
2.34
2.20
1.29
1.52
1.30
1.30

Increases

Average

Number

(dollars)
4
7
6
10
6
7
7
4
4
6
3

Decreases

Average

Number

Average

(dollars)

1.39
0.91
2.07
2.60
3.41
2.67
1.78
1.13
3.22
0.81
1.14

6
8
8
6
7
5
6
7
6
8
6

(dollars)

1.06
2.40
2.45
2.38
3.42
4.17
1.89
1.87
3.07
1.98
1.51

6
4
4
6
5
7
6
5
6
4
6

1.77
0.82
1.79
1.91
3.46
2.00
1.91
1.48
2.61
1.20
1.18

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
Release date

Inventory
change 2

(percent)
January 21, 2022 ...................................
February 25, 2022 .................................
March 25, 2022 ......................................
April 22, 2022 ........................................
May 20, 2022 .........................................
June 24, 2022 ........................................
July 22, 2022 .........................................
August 19, 2022 ....................................
September 23, 2022 ..............................
October 21, 2022 ...................................
November 18, 2022 ...............................
December 23, 2022 ...............................

0.6
0.8
1.4
1.7
2.0
1.2
0.4
1.4
0.4
-0.9
-2.0
-2.6

Change from

Week
prior

Week of
release

Week
after

Week
prior to
week of
release

Week of
release
to week
after

(dollars)

(dollars)

(dollars)

(dollars)

(dollars)

136.58
142.29
138.89
140.73
142.14
143.35
141.54
144.16
142.91
146.98
152.59
155.68

137.39
143.08
138.74
142.98
140.37
143.80
140.03
146.19
144.70
150.01
152.66
156.20

136.86
140.68
139.09
143.07
138.86
145.46
139.13
144.55
144.62
152.00
156.05
157.75

0.81
0.79
-0.15
2.25
-1.77
0.45
-1.51
2.03
1.79
3.03
0.07
0.52

-0.53
-2.40
0.35
0.09
-1.51
1.66
-0.90
-1.64
-0.08
1.99
3.39
1.55

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.

Price Reactions After USDA Livestock Reports (March 2023)
USDA, National Agricultural Statistics Service

5

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
Marketing year

Increases
Number

Week after release

Decreases

Average

Number

1
2

1
1
3
1
1
1
2
2
3
1
0

Increases

Average

(dollars)
2012 ...............................
2013 2 .............................
2014 ...............................
2015 ...............................
2016 ...............................
2017 ...............................
2018 ...............................
2019 ...............................
2020 ...............................
2021 ...............................
2022 ...............................

1

Week prior to release
Number

(dollars)

4.68
1.61
3.28
0.90
1.45
0.09
3.48
5.34
1.59
3.12
0.00

3
3
1
3
3
3
2
2
1
3
4

Decreases

Average

Number

Average

(dollars)

2.04
0.95
0.52
1.86
1.07
1.82
2.19
2.31
0.23
3.58
1.28

2
3
3
4
2
2
2
2
3
1
2

(dollars)

1.78
1.20
0.96
0.48
0.55
1.66
3.02
1.64
0.70
3.04
0.80

2
0
1
0
2
2
2
2
1
3
2

0.11
0.00
0.04
0.00
1.72
1.32
3.76
1.42
7.44
4.86
3.11

Slaughter Hogs, Iowa, Southern Minnesota base lean prices, converted to live price. Source: Market News, Agricultural Marketing Service.
Week after release is missing the October 7, 2013 Market News Report due to government furlough.

Quarterly Hog Price Reactions to Hogs and Pigs Reports
[Price change may not equal difference between average prices due to rounding]
Average price 1
Release date

Inventory
change 2

(percent)

Change from

Week
prior

Week of
release

Week
after

Week
prior to
week of
release

Week of
release
to week
after

(dollars)

(dollars)

(dollars)

(dollars)

(dollars)

March 25, 2021 ......................................
June 24, 2021 ........................................
September 24, 2021 ..............................
December 23, 2021 ...............................

-1.8
-2.2
-3.9
-4.0

66.69
98.48
62.59
46.22

69.81
93.97
57.99
45.64

72.85
83.63
54.63
45.65

3.12
-4.51
-4.60
-0.58

3.04
-10.34
-3.36
0.01

March 30, 2022 ......................................
June 29, 2022 ........................................
September 29, 2022 ..............................
December 23, 2022 ...............................

-2.3
-0.9
-1.4
-1.8

81.61
91.52
74.21
60.98

79.42
90.86
72.53
58.83

75.77
92.45
69.97
55.86

-2.19
-0.66
-1.68
-2.15

-3.65
1.59
-2.56
-2.97

1
2

6

Slaughter Hogs, Iowa, Southern Minnesota base lean prices, converted to live price. Source: Market News, Agricultural Marketing Service.
Percent change from previous year at time of each report.

Price Reactions After USDA Livestock Reports (March 2023)
USDA, National Agricultural Statistics Service

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 [email protected].
Travis Averill, Chief, Livestock Branch ......................................................................................................... (202) 692-0069
Scott Hollis, Head, Livestock Section ............................................................................................................ (202) 690-2424
Sherry Bertramsen – Livestock Slaughter ................................................................................................ (202) 690-8632
Ryan Cowen – Cattle, Cattle on Feed ....................................................................................................... (202) 720-3040
Anthony Fischer – Hogs and Pigs ............................................................................................................ (202) 720-3106
Mike Miller – Milk Production and Milk Cows ....................................................................................... (202) 720-3278
Suzanne Richards – Dairy Products ......................................................................................................... (202) 720-4448
Suzanne Richards – Sheep and Goats ....................................................................................................... (202) 720-4448

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