Price Reactions After USDA Livestock Reports ISSN: 1949-1913 Released March 26, 2013, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA). Livestock Reports and Price Comparisons This report contains price reactions to the United States Department of Agriculture's (USDA) Cattle on Feed, Quarterly Hogs and Pigs, and Milk Production 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. The Milk Production report is released monthly and provides data on the number of milk cows, milk per cow and total milk production for the 23 major milk producing States. Dairy products price reactions to the USDA Milk Production reports are also provided in this publication. The butter and cheddar cheese prices in this publication are based on the daily cash settlement prices reported by the Chicago Mercantile Exchange. Weekly average prices are computed for the week before and the week after the release of each Milk Production report. Annual Cattle Price Reactions to Cattle on Feed Releases [Marketing year represents the January-December calendar year] -------------------------------------------------------------------------------- : Number of and average price changes 1/ :--------------------------------------------------------------- : Week prior to release : Week after release :--------------------------------------------------------------- : Increases : Decreases : Increases : Decreases :--------------------------------------------------------------- Marketing : : : : : : : : year :Number :Average:Number :Average:Number :Average:Number :Average -------------------------------------------------------------------------------- : dollars dollars dollars dollars : 2002 ...........: 9 1.24 3 1.40 5 1.14 7 1.68 2003 ...........: 5 3.73 7 2.41 5 1.90 7 3.24 2004 ...........: 9 1.73 3 1.85 5 4.07 7 1.83 2005 ...........: 2 1.65 10 1.43 5 1.01 7 1.28 2006 ...........: 9 0.96 3 1.26 7 1.76 5 1.61 2007 ...........: 5 0.78 7 1.36 8 1.67 4 1.51 2008 ...........: 6 0.95 6 1.81 9 1.57 3 1.03 2009 ...........: 5 1.72 7 0.91 6 1.26 6 0.62 2010 ...........: 7 2.39 5 1.15 3 2.03 9 0.97 2011 ...........: 4 2.14 8 2.53 7 2.41 5 1.67 2012 ...........: 8 1.44 4 1.40 6 1.06 6 1.77 -------------------------------------------------------------------------------- 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. Monthly Cattle Price Reactions to Cattle on Feed Releases --------------------------------------------------------------------------------------- : : Average price 1/ : : : :-------------------------------: : : : : : : Change from : : : : :------------------- : : : : : Week : Week of : : : : :before to: release Release date :Inventory : Week : Week of : Week : week of : to week : change2/ : prior : release : after : release : after --------------------------------------------------------------------------------------- : percent ------------------- dollars ------------------- : January 20, 2012 .......: 3.0 123.08 125.73 123.86 2.65 -1.87 February 24, 2012 ......: 2.1 128.02 127.88 129.43 -0.14 1.55 March 23, 2012 .........: 2.6 126.40 126.60 125.68 0.20 -0.92 April 20, 2012 .........: 2.0 122.12 122.59 119.80 0.47 -2.78 May 18, 2012 ...........: -0.6 120.31 123.18 121.33 2.87 -1.85 June 22, 2012 ..........: 1.7 119.37 116.43 116.59 -2.94 0.15 July 20, 2012 ..........: 2.7 114.69 112.84 114.20 -1.86 1.36 August 17, 2012 ........: 0.7 119.50 120.52 120.32 1.02 -0.20 September 21, 2012 .....: -0.6 126.13 125.49 122.52 -0.65 -2.97 October 19, 2012 .......: -2.6 124.12 126.24 126.60 2.12 0.36 November 16, 2012 ......: -5.3 124.91 125.36 127.42 0.45 2.06 December 21, 2012 ......: -6.0 124.41 126.18 127.06 1.76 0.88 --------------------------------------------------------------------------------------- 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. Annual Hog Price Reactions to Hogs and Pigs Releases [Marketing year represents December of the previous year through November of current year] ------------------------------------------------------------------------------ : Number of and average price changes 1/ :--------------------------------------------------------------- : Week prior to release : Week after release :--------------------------------------------------------------- : Increases : Decreases : Increases : Decreases :--------------------------------------------------------------- Marketing : : : : : : : : year :Number :Average:Number :Average:Number :Average:Number :Average ------------------------------------------------------------------------------ : dollars dollars dollars dollars : 2002 .........: 3 0.79 1 0.89 3 1.15 1 2.92 2003 .........: 1 1.24 3 2.66 0 0.00 4 1.13 2004 .........: 3 2.13 1 0.28 1 0.12 3 2.33 2005 .........: 3 0.38 1 1.85 1 6.56 3 1.05 2006 .........: 0 0.00 4 2.52 1 3.15 3 1.10 2007 .........: 2 1.85 2 2.87 1 1.45 3 2.78 2008 .........: 3 1.78 1 1.28 1 0.90 3 1.33 2009 .........: 3 0.50 1 0.86 3 1.41 1 0.54 2010 .........: 2 0.82 2 0.60 2 2.24 2 1.12 2011 .........: 3 2.73 1 0.08 3 3.04 1 0.30 2012 .........: 1 4.68 3 2.04 2 1.78 2 0.11 ------------------------------------------------------------------------------ 1/ Slaughter Hogs, Iowa, Southern Minnesota base lean prices, converted to live price. Source: Market News, Agricultural Marketing Service. Quarterly Hog Price Reactions to Hogs and Pigs Releases --------------------------------------------------------------------------------------- : : Average price 1/ : : : :-------------------------------: : : : : : : Change from : : : : :------------------- : : : : : Week : Week of : : : : :before to: release Release date :Inventory : Week : Week of : Week : week of : to week :change 2/ : prior : release : after : release : after --------------------------------------------------------------------------------------- : percent ------------------- dollars ------------------- : March 25, 2011 .........: 0.6 59.04 61.03 64.58 1.99 3.55 June 24, 2011 ..........: 0.5 69.10 74.61 74.31 5.51 -0.30 September 28, 2011 .....: 1.0 66.39 66.31 68.92 -0.08 2.61 December 23, 2011 ......: 1.5 60.35 58.36 58.16 -1.99 -0.20 : March 30, 2012 .........: 1.9 62.42 59.96 60.36 -2.46 0.40 June 29, 2012 ..........: 0.8 75.18 73.51 73.50 -1.67 -0.01 September 28, 2012 .....: 0.4 50.65 55.33 58.49 4.68 3.16 December 28, 2012 ......: 0.0 60.89 60.04 60.25 -0.85 0.21 --------------------------------------------------------------------------------------- 1/ Slaughter Hogs, Iowa, Southern Minnesota base lean prices, converted to live price. Source: Market News, Agricultural Marketing Service. 2/ Percent change from previous year at time of each report. Annual Butter Price Reactions to Milk Production Releases [Marketing year represents the January-December calendar year] --------------------------------------------------------------------------- : Number of and average price changes 1/ :--------------------------------------------------------------- : Week prior to release : Week after release :--------------------------------------------------------------- : Increases : Decreases : Increases : Decreases :--------------------------------------------------------------- Marketing : : : : : : : : year :Number :Average:Number :Average:Number :Average:Number :Average --------------------------------------------------------------------------- : dollars dollars dollars dollars : 2008 ......: 9 0.0179 3 0.0185 5 0.0226 6 0.0307 2009 ......: 6 0.0344 4 0.0285 6 0.0233 4 0.0236 2010 ......: 7 0.0392 4 0.0236 8 0.0467 3 0.1115 2011 ......: 6 0.0280 5 0.0488 5 0.0328 6 0.0434 2012 ......: 6 0.0428 6 0.0525 6 0.0359 6 0.0429 --------------------------------------------------------------------------- 1/ Prices based on the simple average on the Chicago Mercantile Exchange daily closing cash butter prices during the week. Total increases and decreases may not add to twelve for a year when the week-to-week price is unchanged. Monthly Butter Price Reactions to Milk Production Releases ------------------------------------------------------------------------------------- : : Average price 1/ : : : :-----------------------------: : : : : : : Change from : : : : :------------------- : : : : : Week : Week of : : : : :before to: release Release date :Production: Week : Week of : Week : week of : to week :change 2/ : prior : release : after : release : after ------------------------------------------------------------------------------------- : percent ------------------- dollars ------------------- : January 23, 2012 .......: 2.7 1.5800 1.5580 1.4980 -0.0220 -0.0600 February 17, 2012 ......: 3.7 1.4425 1.4005 1.4156 -0.0420 0.0151 March 19, 2012 .........: 8.3 1.5005 1.5225 1.4980 0.0220 -0.0245 April 19, 2012 .........: 4.3 1.4260 1.4175 1.3845 -0.0085 -0.0330 May 18, 2012 ...........: 3.3 1.3065 1.3515 1.3860 0.0450 0.0345 June 18, 2012 ..........: 2.1 1.4595 1.5355 1.5215 0.0760 -0.0140 July 19, 2012 ..........: 1.0 1.5430 1.5780 1.6465 0.0350 0.0685 August 17, 2012 ........: 0.8 1.7270 1.7775 1.8000 0.0505 0.0225 September 19, 2012 .....: -0.2 1.8420 1.8700 1.9400 0.0280 0.0700 October 19, 2012 .......: -0.5 1.9310 1.8880 1.8925 -0.0430 0.0045 November 19, 2012 ......: (Y) 1.8660 1.7033 1.6375 -0.1627 -0.0658 December 19, 2012 ......: 1.1 1.5940 1.5575 1.4975 -0.0365 -0.0600 ------------------------------------------------------------------------------------- (Y) Less than level of precision shown. 1/ Prices based on the simple average of the Chicago Mercantile Exchange daily closing cash butter prices during the week. 2/ Percent change from previous year at time of each report. Annual Barrel Cheddar Cheese Price Reactions to Milk Production Releases [Marketing year represents the January-December calendar year] -------------------------------------------------------------------------- : Number of and average price changes 1/ :--------------------------------------------------------------- : Week prior to release : Week after release :--------------------------------------------------------------- : Increases : Decreases : Increases : Decreases :--------------------------------------------------------------- Marketing: : : : : : : : year :Number :Average:Number :Average:Number :Average:Number :Average -------------------------------------------------------------------------- : dollars dollars dollars dollars : 2008 .....: 7 0.0733 5 0.1247 7 0.0503 5 0.0686 2009 .....: 7 0.0361 5 0.0277 7 0.0386 4 0.0406 2010 .....: 7 0.0262 5 0.0368 10 0.0220 2 0.0502 2011 .....: 7 0.0302 5 0.0788 7 0.0513 5 0.1029 2012 .....: 7 0.0389 5 0.0412 7 0.0467 5 0.0347 -------------------------------------------------------------------------- 1/ Prices based on the simple average of the Chicago Mercantile Exchange daily closing cash 500 pound barrel cheddar cheese prices during the week. Total increases and decreases may not add to twelve for a year when the week-to-week price is unchanged. Monthly Barrel Cheddar Cheese Price Reactions to Milk Production Releases -------------------------------------------------------------------------------------- : : Average price 1/ : : : :------------------------------: : : : : : : Change from : : : : :------------------- : : : : : Week : Week of : : : : :before to: release Release date :Production: Week : Week of : Week : week of : to week :change 2/ : prior : release : after : release : after -------------------------------------------------------------------------------------- : percent ------------------- dollars ------------------- : January 23, 2012 .......: 2.7 1.5200 1.4870 1.4925 -0.0330 0.0055 February 17, 2012 ......: 3.7 1.4890 1.4780 1.4738 -0.0110 -0.0042 March 19 2012 ..........: 8.3 1.5555 1.5830 1.4600 0.0275 -0.1230 April 19, 2012 .........: 4.3 1.4495 1.4600 1.4455 0.0105 -0.0145 May 18, 2012 ...........: 3.3 1.4540 1.4560 1.4660 0.0020 0.0100 June 18, 2012 ..........: 2.1 1.5595 1.6035 1.6720 0.0440 0.0685 July 19, 2012 ..........: 1.0 1.6580 1.7025 1.6930 0.0445 -0.0095 August 17, 2012 ........: 0.8 1.7910 1.8270 1.8045 0.0360 -0.0225 September 19, 2012 .....: -0.2 1.7970 1.9045 2.0140 0.1075 0.1095 October 19, 2012 .......: -0.5 2.0600 1.9585 2.0290 -0.1015 0.0705 November 19, 2012 ......: (Y) 1.7880 1.7308 1.7515 -0.0572 0.0207 December 19, 2012 ......: 1.1 1.6440 1.6405 1.6825 -0.0035 0.0420 -------------------------------------------------------------------------------------- (Y) Less than level of precision shown. 1/ Prices based on the simple average of the Chicago Mercantile Exchange daily closing cash 500 pound barrel cheddar cheese prices during the week. 2/ Percent change from previous year at time of each report. Annual Block Cheddar Cheese Price Reactions to Milk Production Releases [Marketing year represents the January-December calendar year] -------------------------------------------------------------------------- : Number of and average price changes 1/ :--------------------------------------------------------------- : Week prior to release : Week after release :--------------------------------------------------------------- : Increases : Decreases : Increases : Decreases :--------------------------------------------------------------- Marketing: : : : : : : : year :Number :Average:Number :Average:Number :Average:Number :Average -------------------------------------------------------------------------- : dollars dollars dollars dollars : 2008 .....: 7 0.0611 5 0.0136 7 0.0543 5 0.0755 2009 .....: 8 0.0287 4 0.0335 6 0.0449 6 0.0287 2010 .....: 7 0.0309 5 0.0606 9 0.0236 3 0.0424 2011 .....: 7 0.0426 5 0.0900 6 0.0563 5 0.0936 2012 .....: 6 0.0481 6 0.0323 6 0.0377 6 0.0253 -------------------------------------------------------------------------- 1/ Prices based on the simple average of the Chicago Mercantile Exchange daily closing cash 40 pound block cheddar cheese prices during the week. Total increases and decreases may not add to twelve for a year when the week-to-week price is unchanged. Monthly Block Cheddar Cheese Price Reactions to Milk Production Releases -------------------------------------------------------------------------------------- : : Average price 1/ : : : :------------------------------: : : : : : : Change from : : : : :------------------- : : : : : Week : Week of : : : : :before to: release Release date :Production: Week : Week of : Week : week of : to week :change 2/ : prior : release : after : release : after -------------------------------------------------------------------------------------- : percent ------------------- dollars ------------------- : January 23, 2012 .......: 2.7 1.5500 1.5060 1.4965 -0.0440 -0.0095 February 17, 2012 ......: 3.7 1.4770 1.4820 1.4750 0.0050 -0.0070 March 19, 2012 .........: 8.3 1.5345 1.5900 1.4905 0.0555 -0.0995 April 19, 2012 .........: 4.3 1.4875 1.5030 1.5265 0.0155 0.0235 May 18, 2012 ...........: 3.3 1.5025 1.5000 1.5145 -0.0025 0.0145 June 18, 2012 ..........: 2.1 1.6450 1.6195 1.6490 -0.0255 0.0295 July 19, 2012 ..........: 1.0 1.6540 1.7160 1.7150 0.0620 -0.0010 August 17, 2012 ........: 0.8 1.8185 1.8655 1.8440 0.0470 -0.0215 September 19, 2012 .....: -0.2 1.8455 1.9490 2.0565 0.1035 0.1075 October 19, 2012 .......: -0.5 2.1000 2.0240 2.0640 -0.0760 0.0400 November 19, 2012 ......: (Y) 1.8540 1.8250 1.8120 -0.0290 -0.0130 December 19, 2012 ......: 1.1 1.7460 1.7290 1.7400 -0.0170 0.0110 -------------------------------------------------------------------------------------- (Y) Less than level of precision shown. 1/ Prices based on the simple average of the Chicago Mercantile Exchange daily closing cash 40 pound block cheddar cheese prices during the week. 2/ Percent change from previous year at time of each report. 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 nass@nass.usda.gov Dan Kerestes, Chief, Livestock Branch ........... (202) 720-3570 Scott Hollis, Head, Livestock Section ........... (202) 690-2424 Travis Averill - Cattle, Cattle on Feed ...... (202) 720-3040 Doug Bounds - Hogs and Pigs .................. (202) 720-3106 Alissa Cowell-Mytar - Sheep and Goats ........ (202) 720-4751 Donnie Fike - Dairy Products ................. (202) 690-3236 Tiffany Hora - Livestock Slaughter ........... (515) 284-4340 Mike Miller - Milk Production and Milk Cows .. 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