According to beef grading data released by USDA, the percent of beef grading Choice and Prime hit record highs in the first weeks of 2022. Specifically, for the week ending 5 February, the combined total was 85.27 percent. For January, the average was 84.15 percent. Heavy, long fed cattle and good weather conditions certainly helped boost beef quality. The bigger story, however, is the historical context of beef quality. Looking back at the first five weeks of the year, the increased quality in beef has been remarkable. From 2011-2013, the five-week average was 67.38 percent; since 2019 the five-week average has been above 82 percent.
With all the discussion over meat inflation, this general trend of increase in beef quality...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
