Live steer prices up $48 from a year ago | Weekly Livestock Market Update
In this episode of the Weekly Livestock Market Update, host Meghan Grebner and ag economist Josh Maples discuss the latest trends in the livestock market, focusing on cattle prices, market dynamics, and the implications of recent reports on cold storage and slaughter numbers. They analyze the bullish market for cattle, the impact of the jobs report on consumer confidence, and the significance of trade frameworks for beef demand. The conversation highlights the complexities of the market, including risk management strategies for producers and the effects of international trade on domestic prices.
Takeaways:
» We're clearly in a bullish market for cattle prices.
» $48 more than where we were a year ago.
» Low levels of cold storage, especially on the pork side.
» Beef cow slaughter is going to be one of the most fascinating things.
» This report revised May and June down about 258,000 jobs.
» This is a pretty big hiccup here in terms of consumer sentiment.
» Imports of beef from Brazil are now subject to that 50% tariff.
» Can any access is good access, even if it's years down the road.
» We're not likely to send a ton of beef to Australia.
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