The June meat export totals were released by USDA today, with pork, broilers and beef all showing a drop from May and big drops from the 2020 high point in March.
Only pork was up year-over-year, mostly on large volumes shipped to China. In June, China accounted for a third of all exports, but even that was down from May at 40 percent and April at 36 percent.
Meanwhile, beef and pork exports were up in May and June above the 12-month average reflecting the disruption to packing in the U.S. Most of the increase in chilled beef is coming from Mexico, while U.S. exports there are down based on that country’s sluggish economy.
Even before COVID in Q1 2020, the growth of U.S. exports was driven by a 23 percent jump in offal...
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...
