Fed steer price drops more than $6 this week | Weekly Livestock Market Update
In this episode, Meghan Grebner and livestock economist Kenny Burdine discuss the latest trends in the livestock market, focusing on trade data, investment opportunities for cow-calf operators, and future market predictions. They analyze the current state of live cattle and hog prices, the impact of imports on the beef market, and strategic decisions that producers can make to capitalize on favorable market conditions. The conversation emphasizes the importance of understanding market fundamentals and making informed investment choices to enhance profitability in the livestock sector.
Takeaways:
» Live cattle trade was slow to develop this week.
» Choice box beef was up $15 on the week.
» Hog slaughter is running about 2.3% below year-ago levels.
» Beef exports were down 18% from last year.
» Imports of beef and veal are up 28% month over month.
» Brazil is a significant source of beef imports for the U.S.
» Investment in genetics can improve profitability for cow-calf operators.
» Upgrading facilities can help add value to cattle.
» Improved grazing systems can lower costs for producers.
» Strategic financial decisions can help manage debt and working capital.
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