Weekly Livestock Market Update with Scott Brown, June 3thd 2019


•This week in the Markets – Live cattle were unchanged for the week, while feeder cattle were $1 to $3 lower. June live cattle futures closed $2.70 lower for the week and the August feeder cattle futures contract tumbled nearly $9. The July corn futures contract has gained $.77 over the last few weeks, adding pressure to feeder cattle futures. Choice box beef price was $3 higher this week on strength across the board. Barrow and gilt prices were $1.50 lower this week and the June lean hog futures contract closed $4.60 lower. Pork cutout values dropped $1 this week on weakness in bellies, ribs, and butts, but hams did help to mitigate some of those losses. •Restaurant Performance Index – Fell to 101.1 in April, due to a lower Current Situation Index which was at 99.7. The Expectations Index also declined from March to April coming in at 100.5. That report showed that all of the gains in March, were given back in April. • USMCA and tariffs – There’s been some big news surrounding both with the Administration this week. •Feed costs – Prevented plant is driving up corn costs and that’s creating even tighter margins for the livestock sector. •Next week’s reports – Jobs report and Monthly Trade Data Subscribe to the Weekly Livestock Market Update newsletter here: http://brownfieldagnews.us3.list-mana…


Please enter your comment!
Please enter your name here