Weekly Livestock Update with Scott Brown, February 18th 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 higher; cash feeder cattle steady to $4 higher. Live cattle futures 70 cents lower; feeder cattle futures $1.65 lower. Choice boxed beef was steady on the week. Cash hogs were $1 lower; hog futures $1.50 higher; and wholesale pork is $1.50 lower. • Retail Price Information – Retail choice beef was $5.86/lb. in January; 10 cents higher than a year ago because of better beef demand. Retail pork was $3.71/lb. in January, which is 4 cents lower than a year ago because of recent trade troubles. • The Consumer Confidence Index – The Consumer Confidence Index for February is 4.7 percent higher than in January, but it’s 4.2 percent lower than a year ago. Much of that is due to the partial government shutdown that lasted through most of January, plus the threat of a second shutdown that was narrowly averted. • USDA’s Supply and Demand – USDA’s Long-term Agriculture Baseline projects U.S. beef exports increasing by 250 million pounds over the next ten years. The projection is for pork exports to increase by 800 million pounds over that same timeframe. Most of those exports are expected to go to China, Mexico, Sound Korea and Japan. • Next Week – Among the reports due next Friday are the Cattle on Feed Report and the Cold Storage Report.

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