Cattle markets drop again this week | Weekly Livestock Market Update
This week, Brownfield's Meghan Grebner and University of Missouri ag economist Scott Brown talk about the slide in cattle markets, Monthly Trade Data, and more.
Chapters:
0:00 Introduction
0:33 This week in the markets
2:50 Weekly Slaughter
6:25 Monthly Trade Data
12:35 Next week's reports
This week in the markets:
Live fed cattle prices are $3.00 lower on the week, and feeder cattle markets were $9.00 to $14.00 lower this week. October live cattle were down $0.85 on the week, and September feeder cattle were down $6.35 on the week. Choice box beef was $0.40 higher this week. Cash hogs were $2.15 lower this week. October lean hog futures were down $2.60 on the week. Pork cutout values were down $5.00 this week on weakness across the board.
Weekly Slaughter:
At the end of the week, cattle slaughter was 591,000 head, down 2,000 on the week and down 12,000 for the year. Hog slaughter was 2.372 million head, down 83,000 from the previous week and up 4,000 on the year. Year-to-date cattle slaughter is down 4.3% relative to last year, and hog slaughter is up 1.2%.
Monthly Trade Data:
June 2024 beef exports were down 2.4% relative to last year, with China and South Korea leading the lower exports. U.S. beef imports in June 2024 were up 46.4 million pounds relative to the previous year, with year-to-date imports up 19% relative to the same period in 2023. In June 2024, pork exports were 60 million pounds lower on weakness to nearly all destinations except South Korea. Pork exports to China were down 31.4 million pounds.
Next week's reports:
» WASDE
» Consumer Sentiment
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