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: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
