Feeder cattle prices drop $2 to $6 on the week | Weekly Livestock Market Update for 4/6/24
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/
Find more agriculture news here: https://brownfieldagnews.com/
====================
This week in the markets:
====================
Live fed cattle prices are $1.10 lower on the week, and feeder cattle prices were $2.00 to $6.00 lower this week. June live cattle were down $8.45 on the week, and May feeder cattle were down $10.30 on the week. Choice box beef was $8.00 lower this week. Cash hogs are up $1.75 this week. June lean hog futures were up $6.50 on the week. Pork cutout values were up $2.25 this week.
====================
Weekly slaughter:
====================
At the end of the week, cattle slaughter was 609,000 head, up 23,000 on the week and up 4,000 for the year. Hog slaughter was 2.421 million head, up 17,000 from the previous week and up 51,000 on the year. Year-to-date cattle slaughter is down 5.4% relative to last year, and hog slaughter is up 0.6%
====================
Monthly trade data:
====================
February 2024 Beef exports were 244.1 million pounds, down 2.6% relative to one year ago. Japan and South Korea showed the largest declines. Beef imports were 351.1 million pounds this month, up 23.8% relative to last year. Pork exports were 593.4 million pounds in February 2024, up 17.7% relative to last year. Pork trade with Mexico was strong again this month.
====================
Jobs report:
====================
A strong jobs report showed that 303,000 jobs were added in March. That was well above the pre-report estimate of 213,000 jobs. The unemployment rate fell to 3.8%.
====================
Next week's reports:
====================
➡︎ Retail Prices
➡︎ WASDE
➡︎ Consumer Sentiment
====================
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.
