Futures and equity markets were closed Monday in observance of President’s Day.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2 lower in the Southern Plains at $180/cwt., unevenly steady in Nebraska at $181 and steady to $2 lower in the western Corn Belt at $180. Dressed delivered prices were unevenly steady in Nebraska at mostly $287 and steady in the western Corn Belt at $285.
The five-area direct weighted average FOB live fed steer price last week was 80¢ lower at $180.35. The weighted average dressed delivered fed steer price was 76¢ lower at $286.61.
Choice boxed beef cutout value was 89¢ higher Monday afternoon at $297.09/cwt. Select was 74¢ higher at $287.40/cwt.
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Recent release of the 2022 Census of Agriculture indicates further reduction of operations and increasing consolidation over time.
There were 1.9 million farms in 2022. That was 208,916 fewer than in 2012 (-9.9%) and 228,495 fewer than in 2002 (-10.7%). The average farm size in 2022 was 463 acres, which was 29 acres more than in 2012 and 21 acres more than in 2002.
Of the total farms, 622,162 had beef cows, which was 105,744 fewer than in 2012 (-14.5%) and 174,274 fewer than in 2002 (-21.9%). Spun differently, 32.7% of all farms in 2022 had some beef cows, compared to 34.5% in 2012 and 37.4% in 2002.
In terms of herd size, 54.7% of operations had 19 head or fewer (33.6% with 1-9 head), while 14.6% of operations had herd sizes of 200 head or more (2.5% of operations with 1,000 head or more).
There were 880.1 million acres of land in farms in 2022. That was 34.4 million less than in 2012 (-3.8%) and 58.2 million less than in 2002 (-6.2%). Farms consisting of 1,000 or more acres comprised 8.4% of all farms in 2022, compared to 12.3% of farms with 1-9 acres, 29.8% with 10-49 acres and 27.9% with 50-179 acres.