Price Reaction after Livestock Reports

This annual report contains price reactions to the U.S. Department of Agriculture's (USDA) Cattle on Feed, Quarterly Hogs and Pigs, and Milk Production reports. Contained in the report are annual and quarterly increases and decreases in prices in the week prior to release and week after release for cattle, hogs, butter, barrel cheddar, and block cheddar. This report does not imply that NASS reports are solely responsible for changes to the price level for commodities referenced in the publication. The price level for any commodity can potentially be affected by other information available to the market at that time but ultimately is determined by supply and demand.