Weekly Livestock Market Update 2/14/20

Brownfield Ag News

• This week in the markets – Live cash cattle ended the week nearly $2 lower. Feeder cattle markets were generally steady to $5 higher. The April live cattle futures closed almost $1.25 higher for the week and the March feeder cattle futures were about $4 higher for the week. Choice Box Beef price was $3.35 lower for the week on weakness in all component. Cash hogs were $3 lower for the future and April lean hogs closed nearly $2 lower. Pork cutout value was $3 lower this week, on weakness across the board.
• WASDE – USDA added nearly 650 million pounds of production for 2020 for beef, pork, and chicken. The other big change this month was barrow and gilt prices, which were slashed $5.50 from the previous month. Net exports for pork were increased 325 million pounds for February.
• Retail Prices – Choice Box Beef Price fell $.03 in February. That’s still $.20 above year-ago levels. The pork retail price gained $.03 this month, and is $.12 above year-ago levels.
• Consumer Sentiment – Preliminary results for February showed the overall index gained 1.1 percent, that is an increase of 7.6 percent year-over-year. The Index has nearly matched is peak, set two years ago, in March of 2018.
• China – Coronavirus, total impact, and can we meet Phase One agreement.
• Next week’s reports: Livestock Slaughter, Cattle on Feed, and Number of Farms in the US.

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