While beef retail prices have cooled a bit in the U.S. from last year’s record domestic demand, export demand remains exceptional. Beef exports totaled 108,501 MT in February and were 105 percent of February 2021. Exports by value were 135 percent of a year ago at $904 million. In the first two months of the year, beef exports by value have been almost $2 billion, 146 percent of the same period in 2021. By volume, 2022 exports are 109 percent of last year at 227,567 MT. In terms of supply, exports so far this year have accounted for more than 14 percent of production, which is slightly below last year’s 14.4 percent, but high demand and a mix of exported products have driven major gains in value.
Exports, especially b...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
