Scott Brown Weekly Livestock update from the University of Missouri, February 12th 2017
Some highlights from this week’s Weekly Livestock Market Update:
•Cattle and hog markets ended the week mixed. Week over week live cattle were flat in most months, feeders were lower in the most active months, and the hog market saw fairly strong gains.
•USDA released its WASDE report on Thursday. Scott and Meghan discuss what it said.
•Farm income is projected to decline again for 2017.
•USDA released trade data for December. Big jumps is beef, pork, and poultry.
•Brown says big export demand is part of what is keeping prices higher.
•Meghan and Scott touch on the long-term and near-term impacts of the US pulling out of the Trans-Pacific Partnership and renegotiating NAFTA.
•Everyone is feeling good – a positive consumer confidence survey and the Purdue/CME Group Ag Economy Barometer shows another increase in producer sentiment.