Prices for U.S. replacement dairy cows reached an all-time high in July, according to latest quarterly estimates from the USDA. Meanwhile, average cull cow prices increased in June, setting a new record high for a second consecutive month.

U.S. replacement dairy cow prices averaged $2,360 per head in July 2024, up $240 (10%) from April 2024’s peak and up $600 (34%) from July 2023.

The USDA estimates are based on quarterly surveys (January, April, July and October) of dairy farmers in 24 major dairy states, as well as an annual survey (February) in all states. The prices reflect those paid or received for cows that have had at least one calf and are sold for replacement purposes, not as cull cows. The report does not summarize auction market prices.

Quarterly average prices for replacement cow prices were up in all 24 major dairy states (Table 1). Largest increases were in Kansas, South Dakota and Texas.

Compared to a year earlier, July 2024 replacement cow prices were up $740 per head in Wisconsin and $710 per head in Ohio, and up $700 per head in both Texas and Minnesota.

Progressive Dairy’s Cattle Market Watch tracks dairy heifer prices from about 20 auction markets throughout the U.S., with price summaries updated about every two weeks. The listings cover top and medium springers, shortbred and open heifers, and heifer calves.

Market cow prices rise

With a month lag in reporting data, U.S. average prices received for cull cows (beef and dairy, combined) in June averaged $138 per cwt. The new record-high average price is up $6 from May. The May average, at $132 per hundredweight (cwt), had easily surpassed previous record-high average prices last seen in the second half of 2014.

The slowdown in dairy cull cow marketing is being driven by a smaller milking herd, limited availability of replacement heifers to maintain full barns and slight improvements in milk income margins. The number of dairy cull cows marketed through U.S. slaughter plants was estimated at 186,400 in June 2024, down 29,600 from May 2024 and 69,300 fewer than June 2023.

As of July 25, year-to-date slaughter was estimated at 186.4 million head, down 332,000 from the same period a year earlier.

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