The July monthly export data show both beef and pork down from year-ago levels but up from June. Compared to June, beef exports were up 36 percent in volume and 9 percent below July 2019. Pork exports were up 7 percent over June but 5 percent below year-ago levels. July was the lowest month since October 2019 for pork export volumes to China, but the demand outlook remains strong approaching the holiday season through the end of the year. For the first half of the year, beef exports are down, and pork is up, with values running just ahead of volumes.
Since March and the COVID outbreak, the average negotiated live hog price has dropped 38 percent as the backlog from packing plant slowdowns hasn’t been worked through com...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
