Weekly Livestock Update with Scott Brown, March 4th 2019

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Some highlights from this week’s Weekly Livestock Market Update: •This week in the markets – Live cash cattle were up $3.00 for the week while feeder cattle markets were steady to $3.00 higher. The April live cattle futures contract was up $.60 this week while the April feeder cattle futures closed down $.35. The choice box beef price was $2.20 higher this week with strength in ribs and loins. Cash barrow and gilt prices were $1.25 lower this week while the April lean hog futures contract closed up $.90. The pork cutout value was unchanged as strength in bellies was offset by weakness in ribs. •USDA Cattle Report – The report generally suggested higher inventory than pre-report analysis would have suggested. The number of beef cows was up 1% relative to a year ago while last year‘s calf crop was estimated 1.8% higher, exceeding pre-report estimates. Cow inventory grew the most in Texas, South Dakota, Oklahoma and Nebraska while Missouri cow inventory declined as dry weather limited feed supplies. •Livestock Slaughter – Commercial beef production grew by 2.6% in 2018 while commercial pork production grew by 2.9%. The 2018 levels of beef and pork production exceeded their 2014 levels by 10.5% and 15.1% respectively showing the large growth in meat supplies over the last 4 years. • Next week’s reports – next week is full of reports with livestock slaughter, farm income, cold storage, WASDE, cattle on feed and monthly trade data. Subscribe to the Weekly Livestock Market Update newsletter here: http://brownfieldagnews.us3.list-mana…

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