Weekly Livestock Market Update with Scott Brown, April 29th 2019

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Some highlights from this week’s Weekly Livestock Market Update: •This week in the markets – Cash fed cattle were down $1.60 lower this week and feeder cattle sales were steady to $5 lower. Cattle futures were lower this week – June live cattle were down $7.85 for the week and May feeder cattle closed $7.50 lower. Choice box beef price was $1 higher this week, with the most strength in the loins. Cash hogs were up $1.90 this week. May lean hogs closed nearly $3 lower for the week. Pork cutout value was $.60 lower this week as bellies were lower after a lot of volatility in the market. •Livestock Slaughter – First quarter 2019 pork production is 2.9 percent higher than the same quarter a year ago. Beef production was .8 percent lower on the year. Heifer slaughter remains strong – up nearly 8 percent relative to a year ago, while steer slaughter fell by 4 percent. March cattle weights were 16 pounds below year-ago levels for the fourth consecutive month of double digit reductions. The first beef-cow slaughter was only up 1,800 head relative to a year ago. •Cold Storage report – Total inventory for beef, pork, chicken, and turkey was 2.4 billion pounds at the end of March. That’s 1.5 percent lower than a year ago. Boneless beef was 1.3 percent lower and pork products were .1 percent lower than a year ago. Chicken stocks remain in better shape – down 3 percent relative to the previous year. •China pork production – How African Swine Fever will likely reshape the Chinese pork industry •Next week’s reports – Restaurant Performance Index and Jobs Report.

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