The government shutdown is affecting USDA operations and resources | Weekly Livestock Market Update

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4d ago 18:58

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In this episode of the weekly livestock market update, Kellan Heavican and Josh Maples discuss the significant impact of the government shutdown on USDA resources and livestock markets. They analyze current market trends for cattle and hogs, the importance of USDA reports, and the implications for food safety inspections. The conversation emphasizes the need for producers to have risk management plans in place to navigate the uncertainty in the market.

Market highlights:

Live steer prices averaged 229.96/cwt for the 5-market average which was down about $3 from a week ago and up $43 per cwt from a year ago. The October live cattle futures contract was down about $1 per cwt from a week ago to $230.75/cwt at the time of recording on Friday afternoon, and the August feeder cattle futures price was down less than $1 per cwt on the week to $356.50. Choice box beef was at $362.95 at the end of this week, which is down about $14 per cwt from last week. Cash hogs were down $1.25 to $99.87/cwt. October lean hog futures were down about $3 to $98.90/cwt on the week. The pork cutout value was down about $5 from a week ago, to $107.35 /cwt this week.

Weekly Slaughter:

Weekly cattle slaughter was estimated at 557,000 head for the week, up 2,000 head from a week ago and down 54,571 from a year ago. Hog slaughter was 2.602 million head, up 72,000 head from a week ago and down 4,371 from a year ago.

Shutdown Impact on USDA Reports:

The U.S. government shut down on Wednesday and the impact can be seen in USDA operations. The USDA shutdown plan included furloughing of about half of the agency’s 86,000 employees. This includes most of the farmer-facing positions such as FSA field staff. Select Farm Service Agency leadership at headquarters and at state offices will be on call. Only about 500 of the 7,614 people who work for the Food Safety and Inspection Service will be furloughed, which regulates meat and poultry processing.

USDA will not implement or process disaster assistance payments including remaining Supplemental Disaster Assistance programs, Emergency Livestock Relief Program 2023 and 2024 for flood and wildfire. They also won’t implement recent changes to farm bill programs.

Reports relevant to the meat and livestock sectors could be impacted depending on how long the shutdown lasts. The ERS Livestock and Meat International Trade data are set to be released on October 8th next week may be in jeopardy. The monthly Cattle on Feed report set to be released the week after might also be affected.

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