Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines.

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This week in the markets – Live fed cattle prices were up $2.30 on the week, while feeder cattle prices were $4 to $10 higher. August live cattle were up $3.40 on the week, and August feeder cattle were up nearly $1.30 on the week. Choice box beef was down $12 this week and stands nearly $42 above the year-ago level. Cash hogs were up nearly $2.60 this week. August lean hog futures were up nearly $.85 on the week. Pork cutout values were up $4 this week, supported by strength in hams and bellies.
Weekly Slaughter Numbers – At the end of the week, cattle slaughter was 633,000 head, up 94,000 on the week and down 40,000 for the year. Hog slaughter was 2.340 million head, that's up 386,000 from the previous week and up 85,000 on the year. Year-to-date cattle slaughter is down 3.6%, while hog slaughter is up 1.2%
Supply and Demand – Livestock prices are the big change in the WASDE. USDA raised its 2023 for fed cattle $3.60 relative to June. The USDA's 2024 projection increases $4 to $184 cwt. Barrows and gilts were raised $1.20 for 2023 and USDA raised the 2024 price $3.
Retail Prices – The June choice retail price was $8.14, that’s up 6.2% on the year. The pork retail price came in at $4.68, down 5% on year-ago levels. Retail bacon prices are at $6.22, a decline of 16% from 2022.
Consumer Sentiment – July Consumer Sentiment rose 13% from June and is 41% above year-ago levels. Sentiment increased as inflation slowed, and labor markets became less volatile. Consumer Sentiment has gained about half of the declines experienced during the COVID-19 pandemic.
Next week's reports – Livestock Slaughter, July Cattle Inventory, and Cattle on Feed.

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