Calf prices continue breaking records

As the calendar turned the page to a new year, USDA reported the number of beef cows dropped by 1% last year, the sixth straight year of decline since the peak in 2019. All cattle on feed also slipped 1% in 2024. Markets have responded accordingly to the tighter inventory as cattle feeders look to fill pens.

Dairy-beef calf prices from across the country have continued to skyrocket, reaching historical highs. East to west prices in late March for dairy-beef cross bull calves reported by USDA and regional auction markets include:

The National Association of Animal Breeders (NAAB) 2024 report was released on March 4, giving strong indications for the proportion of beef cross or dairy replacement calves to be born in the first half of 2025.

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