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: 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...
