Drought in Northern Mexico, paired with high feeder cattle prices in the U.S., has substantially increased feeder cattle imports to the U.S. in 2024. July feeder cattle trade data revealed an increase of more than 50,000 head from Mexico to the U.S. in July when compared to this time in 2023. This has contributed to a 170,000 total head increase to the U.S. from Mexico thus far in 2024.

In July, total beef imports into the U.S. were up 86 million pounds from 2023, a 27% increase (20% total increase in 2024). U.S. beef exports were down 7.7% in July and 2.9% this year (through July).

While it’s hard to point to one particular reason for declining cattle prices over the past, analysts have cited the anthrax found in Wyoming cattle and a lower-than-expected fed cattle trade in Kansas as contributors.

Read more on U.S. cattle trade and recent prices.

For farmers and ranchers looking for stability from the livestock market volatility, Livestock Risk Protection (LRP) can help insure against declining market prices.