Feeder cattle prices $4.00 to $9.00 higher this week | Weekly Livestock Market Update
On this episode of Weekly Livestock Market Update (WLMU), Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown talk feeder cattle prices being $4.00 to $9.00 higher this 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 $1.10 higher on the week, and feeder cattle prices were $4.00 to $9.00 higher this week. June live cattle were up $2.95 on the week, and May feeder cattle were up $6.25 on the week. Choice box beef was $0.80 lower this week. Cash hogs are down $0.20 this week. June lean hog futures were down $2.50 on the week. Pork cutout values were down $2.35 this week.
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Weekly Slaughter:
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At the end of the week, cattle slaughter was 613,000 head, down 7,000 on the week and down 14,000 for the year. Hog slaughter was 2.379 million head, down 108,000 from the previous week and down 1,000 on the year. Year-to-date cattle slaughter is down 4.7% relative to last year, and hog slaughter is up 0.6%.
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Cold Storage:
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The March 2024 beef freezer stocks were 9.5% lower than one year ago and pork stocks were down 13.1% relative to one year ago. Chicken stocks were 100 million pounds lower than one year ago.
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Livestock Slaughter:
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March 2024 beef production totaled 2.1 billion pounds, down 12.3% relative to last year. Year-to-date beef production is down 3.9% relative to the previous year. Cattle weights were 23 pounds above last year. Pork production in March 2024 was 2.3 billion pounds, down 9.6% relative to March 2023. March 2024 beef cow slaughter was 22.4% below last year.
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Next week's reports:
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➡︎ Restaurant Performance Index
➡︎ Jobs Report
➡︎ Monthly Trade Data
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