Cattle prices slip in the holiday shortened week | Weekly Livestock Market Update
In this episode of Weekly Livestock Market Update, Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown talk Quarterly Trade Data, the Restaurant Performance Index, and a down week for cattle.
Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/
Find more agriculture news here: https://brownfieldagnews.com/
====================
This week in the markets:
====================
Live fed cattle prices are $2.70 lower on the week, while feeder cattle prices were steady on the shorter holiday week. June live cattle were down $2.35 on the week, and August feeder cattle were down $4.05 on the week. Choice box beef was $1.60 higher this week. Cash hogs were $0.20 higher this week. June lean hog futures were down $0.05 on the week. Pork cutout values were up $2.50 this week.
====================
Weekly Slaughter:
====================
At the end of the week, cattle slaughter was 540,000 head, down 67,000 on the week and down 28,000 for the year. Hog slaughter was 2.155 million head, down 207,000 from the previous week but up 130,000 on the year. Year-to-date cattle slaughter is down 4.5% relative to last year, and hog slaughter is up 0.7%.
====================
Quarterly Trade Update:
====================
FY2024 agricultural exports were unchanged from the February outlook at $170.5 billion. Based on stronger dairy and beef exports, the livestock, poultry and dairy export outlook was increased by $800 million for FY2024. Imports of livestock, poultry, and dairy were increased by $600 million in the May outlook for FY2024.
====================
Restaurant Performance Index:
====================
The April 2024 restaurant performance index declined 0.4% relative to last month on a lower current situation index and a weaker expectations index. Customer traffic fell 0.5% in April relative to the previous month. Restaurant operators continue to be concerned about future business conditions.
====================
Next week's reports:
====================
➡︎ Jobs Report
➡︎ Monthly Trade Data
====================
Connect with us:
====================
➡︎ X (formerly Twitter): https://twitter.com/brownfield
➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews
====================
Subscribe and listen to Brownfield Ag News:
====================
➡︎ Apple: https://podcasts.apple.com/dz/podcast/brownfield-ag-news/id1436508505
➡︎ Spotify: https://open.spotify.com/show/4qoIHY9EYUV9sf5DXhBKHN?si=a4483aaa1afd445e
Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content.
