Retail beef prices up 6.5% on the year | Weekly Livestock Market Update for 3/15/24
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/
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This week in the markets:
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Live fed cattle prices are $2.70 higher on the week and stand $23.65 above the year-ago level, while feeder cattle prices were steady to $5.00 higher this week. April live cattle were down $0.35 on the week, and April feeder cattle were down $1.80 on the week. Choice box beef was nearly $4.50 higher this week. Cash hogs are up $0.50 this week. April lean hog futures were up $2.05 on the week. Pork cutout values were up $1.15 this week.
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Weekly slaughter:
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At the end of the week, cattle slaughter was 601,000 head, up 18,000 on the week and down 27,000 for the year. Hog slaughter was 2.471 million head, up 15,000 from the previous week and down 24,000 on the year.
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Retail prices:
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The February beef retail price registered $8.08 per pound, up 6.5% relative to one year ago but unchanged from January 2024. Ground beef prices were 2.0% higher in February relative to January. The February pork retail price was $4.76 per pound, virtually unchanged from one year ago.
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Consumer sentiment:
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The March 2024 consumer sentiment index slid 0.5% relative to last month but remained 23.4% above the year-ago level.
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Next week's reports:
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➡︎ Livestock Slaughter
➡︎ Cattle on Feed
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