Miscellaneous
This week in the markets – Cash cattle were down $1 this week. Feeder cattle auctions were anywhere from steady to $4 higher. August live cattle futures contract was up nearly $4 and August feeder cattle were up $3. Choice Box Beef price fell $3.60 this week. Cash hogs were $.75 higher this week. August lean hog futures ended the week $.75 higher. Pork cutout value was down $.48 this week. Slaughter – It was another week of decent slaughter totals. The daily average for cattle 121,000 this week and the average for hogs is around 467,000. USDA’s Acreage Report - Estimated corn planted at 92-million acres, down 5 million acres from planting intentions. Soybean planted area came in at nearly 84-million acres, down slightly from March intentions. Restaurant Performance Index – For May came in at 96.8, up from 94.9 in April. Same store sales and customer traffic all showed positive moves in May relative to April. Expectations were also higher in the report, but most do not expect the return to pre-COVID levels by the end of this year. Job’s Report – The government says 4.8 million jobs were added in June, lowering the unemployment rate to 11.1 percent. Next week’s reports – Monthly Trade Data & WASDE