Placements down 8% in latest Cattle on Feed report | Weekly Livestock Market Update
In this episode, Meghan Grebner hosts Kenny Burdine and Charley Martinez to discuss the latest cattle inventory and cattle on feed numbers. They analyze market trends, including the decline in boxed beef prices and the implications of the July cattle inventory report. The conversation also covers the current state of cattle on feed, heifer retention, and the impact of historical lessons on future expansion decisions in the beef industry.
Takeaways:
» The fed steer price was down 3% this week.
» Boxed beef prices have been declining recently.
» Cattle slaughter is projected to be down 2% compared to last week.
» Hog slaughter is also down slightly this week.
» The July cattle inventory report is highly anticipated.
» Total cattle inventory is down 1.3% from two years ago.
» Heifer retention is not showing significant growth.
» Cattle on feed numbers indicate a potential slowdown in herd expansion.
» Interest rates are a significant factor in expansion decisions.
» Producers are cautious due to past experiences with market fluctuations.
Chapters:
00:00 Market Overview and Trends
09:13 July Cattle Inventory Report Insights
16:35 Cattle on Feed Numbers and Implications
21:21 Economic Factors Influencing Expansion Decisions
23:59 Lessons from Past Market Cycles
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