Scott Brown weekly Livestock update from the University of Missouri, March 20th 2017
Some highlights from this week’s Weekly Livestock Market Update:
This week’s market recap with Scott Brown: Cash hogs are steady for the week. Pork cut-out is steady for the week and the first time in a few weeks we’ve steadied on the pork cutout side. In terms of beef – feeder calves are steady to $3 higher for the week and feeder cattle are steady to $4 higher. Brown says there is strong demand for the week. Fed cattle are $3 higher for the week. Choice beef cut-outs are up $7 for week, driven by stronger loin and rib prices. That’s the highest beef cut-out value since June of 2016.
•Scott and Meghan take a closer look at the consumer side of the market information.
•The Consumer Sentiment report this week was up. Brown says that shows continued strength in demand.
•Retail prices were also up. Both of these reports indicate a strong demand and Brown says that creates additional opportunities for beef producers.
•Brown talks about the share of the retail prices for producers for both cattle and hogs.
•Iowa State released their latest farrow to finish returns and it is good news for pork producers.
•Another case of confirmed avian flu in Tennessee. Depending on the extent of the outbreak it could flood the domestic market with poultry products and as the prices drops it could drag down beef and pork prices. Brown says livestock producers should keep an eye on the HPAI outbreaks.
•A big week for reports next week: Cattle on Feed, Cold Storage, and Slaughter numbers are all released.