Weekly Livestock Update with Scott Brown, January , January 28th 2019

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Some highlights from this week’s Weekly Livestock Market Update: •This week in markets – Cash fed cattle closed $2 lower this week. Feeder cattle were steady to $4 higher this week on slightly lower runs due to less than stellar lot conditions from the recent bouts of winter weather. February live cattle futures were down $1.20 this week, while the March feeder cattle contract closed $.75 higher. Choice Box Beef price showed strength this week, up $4.40, on strength across all components. Cash hogs were unchanged this week, we continue to see a lot of sideways movement in hog prices since the start of the year. February lean hog futures contract dropped nearly $3 this week. Pork cutout value lost $1.30 this week on weakness in belly prices. Which is $13.50 below year-ago levels. •There is no Cattle on Feed report today and it’s more than likely the January Cattle Inventory report will at least be delayed. Pre-report estimates have been released, and the average placement for December was up 2 percent, while Cattle on Feed January 1 were estimated to be up 2.3 percent. There were a wide range of estimates on placements from down 5 percent to up 5 percent. •It’s likely we won’t see any reports next week.

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