Brownfield Ag News

This week in the markets – Fed cattle were $2 higher this week, while feeder cattle were steady to $3 lower. The futures market showed strength this week with December live cattle up $3.40 and November feeder cattle futures up $3.60. Boxed beef prices gained $7.70 this week on strength in ribs and loins. Cash barrow and gilt prices were nearly $2 lower this week and the December lean hog futures contract closed nearly $1 lower. Pork cutout value was basically unchanged this week, as strength in picnics, ribs, and hams were offset by weakness in the bellies. Restaurant Performance Index – The Overall Restaurant Performance Index came in at 100.4, still suggesting minor expansion. For the fourth consecutive month we have seen a decline in the Current Situation Index. It now sits at 99.6 for September, its lowest level since January of 2018. The Expectation Index came in at 101.3. Jobs Report – Total non-farm employment rose by 128,000 in October, exceeding the pre-report