Brownfield Ag News

This week in the markets – Fed cattle are trading nearly $2 higher this week, that’s actually about $1 higher than they were a year ago at this time a year ago. Feeder cattle auction are anywhere from steady to $4 higher this week. On the futures side, December live cattle futures contract closed $1.25 higher, while November feeder cattle futures closed nearly $1.50 lower. The Choice Box Beef price was nearly $4 higher this week on strength in all components. Cash hogs are $4 higher this week, while December lean hog futures were down $2. Pork cutout value was virtually unchanged this week. USDA’s Livestock World Market and Trade Report:Beef – USDA projects Australian beef production will decline nearly 10 percent in 2020 as the country continues to deal with severe drought. Beef exports out of Australia are expected to decline 13 percent in 2020. As the Chinese look for alternative meat products, beef imports into China are expected grow by nearly 21 percent. And