Byproduct values for cattle and hogs are trending down, according to an analysis from the Livestock Marketing Information Center.
“This year, the steer hide and offal value started around $14 per hundredweight and moved below $13/cwt. by the end of June,” the center said. “In July, the steer hide and offal value began to trend higher, reaching about $13.70/cwt. by late September, but the value has moderated lower over the last two months.
“Last week’s steer hide and offal value was $11.89/cwt., down $2.43/cwt., or 17% from the same week last year. Recent lower trends in the steer hide and offal value is due to lower values for livers (-30%), tripe (-16%), tongues (-32%) and tallow (-31%).”
The value of cow byproducts has shown a similar pattern.
“During 2023, the cow byproduct value has tracked below 2022 levels except for a few weeks in April and May,” the LMIC said. “The highest value for the year was $13.94/cwt. in mid-October. Since that point, the cow byproduct value has moved lower. Last week’s cow by-product value was $12.54/cwt., a decrease of $1.40/cwt., or down 11%, over the last two months.
“The lower cow byproduct value is due to lower values for bone meal, which was $376/cwt. last week, compared to $443/cwt. in early October. Over the last two months, values for scalded tripe have fallen 24% while the value for honeycomb tripe was down 42%.”
Cuts have also occurred on the hog side.
“The hog byproduct value remained relatively flat from April through September with values ranging from $5.15 to $5.38/.cwt, averaging $5.26/cwt.,” the center said. “During October, the hog byproduct value increased from $5.20/cwt. at the start of the month to $5.37/cwt. by the end of the month. The hog byproduct value continued to move higher during November, and by the end of the month, the value had reached $5.54/cwt., the highest value since late January. Over the last three weeks, the hog by-product value has fallen $0.25/cwt. (-4.5%). The value of bone meal has been a factor pressuring the hog byproduct lower.”