Fed cattle and cash hog prices move higher this week | Weekly Livestock Market Update for 2/16/24
Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines.
Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/
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This week in the markets:
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Live fed cattle prices are $1.45 higher on the week, while feeder cattle prices were steady this week. April live cattle were up $0.85 on the week, and March feeder cattle were up $3.95 on the week while March corn futures were 14 cents lower this week. Choice box beef was unchanged this week and stood at $18.75 above the year-ago level. Cash hogs are up $1.50 this week. April lean hog futures were up $4.00 on the week. Pork cutout values were up $2.40 this week.
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Weekly slaughter:
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At the end of the week, cattle slaughter was 608,000 head, down 14,000 on the week and down 17,000 for the year. Hog slaughter was 2.559 million head, down 63,000 from the previous week and up 69,000 on the year.
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Retail prices:
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The choice retail beef price gained 6.7 cents in January 2024 relative to last month. This is 6.7% above the year-ago level. The retail price of pork fell 3 cents in January 2024 relative to last month and remained unchanged relative to the year-ago level. Bacon prices fell 2.4% over the past month.
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Consumer sentiment:
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The February consumer sentiment index gained 0.8% over last month's level and 19% above the year-ago level.
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Next week's reports:
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➡︎ Livestock Slaughter
➡︎ Cattle on Feed
➡︎ Cold Storage
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