This week’s WASDE forecast showed total meat and broiler production increased slightly over last month’s projections. Beef is up on increased slaughter and heavier weights, pork is up slightly on heavier weights (last week hitting 288 pounds) and broilers are up on hatchery data.
Retail beef prices in October eased off their record highs, but holiday demand will likely be bullish moving into next month.
The choice cutout is at record levels for November but down since the first of October, squeezing margins. Cash steers were $131.67 per hundredweight today, up from $130 yesterday and continuing their rise since mid-October when prices finally broke out of their $120/cwt to $124/cwt range-bound trade. Packers ar...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
