Weekly Livestock Market Update with Scott Brown, April 8th 2019

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Some highlights from this week’s Weekly Livestock Market Update: •This week in the markets – Cash fed cattle ended the week nearly $2 lower this week and while feeder cattle markets were steady to $6 higher. The June live cattle futures contract ended the week $1 higher and May feeder cattle futures contract was unchanged. Choice box beef price fell $1.75 this week on weakness in chucks and rounds. Barrow and prices closed $2.25 higher this week and the May futures contract ended the week nearly $11 higher. The pork cutout value was up $.75 this week, with strength in all products but hams. •Jobs report – The US Economy added 196,000 jobs this month and wage growth expanded by 3.2 percent. The unemployment rate remains unchanged at 3.8 percent. •Restaurant Performance Index – Came in at 101 for February, that’s down slightly from January’s 101.2. The current situation index stands at 103, suggesting current store sales and customer traffic are steady. The expectation’s index came in at 101.8 as restaurants expect increases in customer traffic. •K-State released its Demand Index – Annual beef demand declined 1.86 percent and pork demand decreased 1.3 percent. Demand has been strong – and it will be difficult for it to continue to increase domestically at the same pace. •Weather concerns for the spring – We’ve talked about how it could impact row crops – but how will this wet spring impact the cattle sector •Next week’s reports – WASDE on Tuesday along with Foreign Ag Service’s livestock circular, Retail Prices, and Consumer Confidence.

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