Feeder cattle prices $2 to $5 lower for the week | Weekly Livestock Market Update
Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown talk feeder cattle prices being $2 to $5 lower for the week.
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 $3.10 lower on the week, and feeder cattle prices were $2.00 to $5.00 lower this week. June live cattle were down $0.55 on the week, and May feeder cattle were down $4.40 on the week. Choice box beef was $0.85 lower this week. Cash hogs are up $3.60 this week. June lean hog futures were down $5.85 on the week. Pork cutout values were up $3.85 this week.
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Weekly Slaughter:
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At the end of the week, cattle slaughter was 603,000 head, down 10,000 on the week and down 8,000 for the year. Hog slaughter was 2.485 million head, up 64,000 from the previous week and up 58,000 on the year. Year-to-date cattle slaughter is down 5.1% relative to last year, and hog slaughter is up 0.7%
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Retail Prices:
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The March 2024 retail choice beef price was $8.12 per pound, up slightly from last month and up 6.3% relative to last year. The March 2024 retail pork price was $4.79 per pound, up $0.03 per pound relative to last month and 0.8% relative to the year-ago level.
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WASDE:
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The April USDA WASDE report increased 2024 beef, pork and chicken production by 533 million pounds relative to last month. Pork exports for 2024 were increased by 210 million pounds relative to last month. Higher price estimates for cattle (+$2), hogs (+$2) and chicken (+$2) despite increased meat supplies imply stronger demand.
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Consumer Sentiment:
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The April index fell 1.6% relative to last month as the current economic conditions index fell 3.9%. Stubborn inflation may be one of the reasons for April's lower consumer sentiment index.
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Next week's reports:
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➡︎ Cattle on Feed
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