Live cattle prices are $32 per cwt higher than 2024 | Weekly Livestock Market Update
In this episode, Meghan Grebner and Josh Maples discuss the latest trends in the livestock market, including cattle and hog prices, the USDA's June acreage report, and the phased reopening of Southern ports for cattle imports. They also analyze the recent jobs report and its implications for consumer demand, as well as legislative updates that could impact agriculture. The conversation wraps up with a look ahead at upcoming reports and what they might mean for the industry.
Takeaways:
» Market highlights show cattle prices remain strong despite a holiday-shortened week.
» Cattle slaughter is down 5.6% year-over-year, contributing to higher prices.
» USDA's June acreage report indicates ample corn supplies for livestock feed.
» The phased reopening of Southern ports for cattle imports is underway, starting with Arizona.
» The jobs report shows stronger-than-expected job growth, indicating positive economic signs.
» Legislative updates include changes to the livestock forage disaster program, likely increasing payouts.
» The death tax provisions in the new bill could benefit generational farms.
» Upcoming reports will provide insights into cattle inventory and expansion trends.
» The market is closely monitoring heifer numbers and calf crop data for signs of expansion.
» Overall, the livestock market is navigating tight supplies and fluctuating prices.
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